Yes. Even if we all know that those weirdo fork and seatstay waves are there just for the look of it.

The ultimate test: show the bike to someone who knows nothing about bikes. Nobody will notice an outrageously expensive Ti bike: it looks just like a bike. But a Pinarello with big stickers, deeeep rims with HUGE logos, all color-coordinated - you'll immediately get asked "how much does it cost" and "it must be really light", the 2 desired feedback of true bling. With a bit of luck, you can even get a "can I lift it?".

You know the guy who knows about bikes, rides a lot and puts in the effort will just wave you off as a poseur, so don't waste time there.