Definitely, but that's not to say a cheap road bike (in my case) is a bad buy.
Started seriously on a £250 when new 8 speed Raleigh Chimera..That bike did so well, covered thousands of miles on it, wheels never let me down...just a brilliant bike for the price.
Compare that to my £1200
Ribble sportive carbon with Fulcrum 5s....i hardly go any faster but the ride is supreme compared to the Chimera, which had steel straight forks that transmitted every bump through the handlebars
Chimera...dependable, cheap but heavy and somewhat uncomfortable on long rides.
Ribble.......dependable, relatively expensive, light, and a joy to ride.
An expensive bike won't make you go much if any faster IME, I had quite regular times for my old 50 milers on both bikes, both were about the same time. But one will make you grin and be more comfortable.