Absolutely YES!!!
After a five year hiatus from the hobby, I set up a 75 gal (upgrade to a 90) reef tank using Dry Pukani. It was still in vogue and I was operating under the assumption that no nutrient is a good nutrient. I got PO4 and held it at 0 running GFO, ran a filter sock, and starved my fish when I first stood up my current tank five years ago. The tank did fine until about the 1 year point when (I surmise) the dry Pukani Rock had finally given up the majority of whatever it gives up in "locked nutrients.... My NO3 levels stabilized at a near zero with healthy soft coral and (probably) too much skimming and the GFO kept PO4 at absolute zero. The fight I had over the next 18 months almost made me shut it down. First i battled cyano, then dinos, and finally Red Turf Algae (RTA). The cyano, while bad, was much easier to get rid of with chemical additives like Chemiclean or Red Slime Remover.
Thinking I had to fix the "root cause" I upped my filtration, water changes, and became even more stingy with feeding. Nutrients were 0/0. Then came the dinos... My research lead me to believe that dinos thrive in near zero nutrients. I finally got rid of dinos by taking GFO offline, feeding more, backing off water changes and installing an appropriate sized UV. Next up Red Turf Algae.
You think RTA will eventually go away, but it never did. After scouring the internet, I was able to correspond with Dr. Jack Kent (Kent Marine and Brightwell Aquatics) who recommended I try BA MicroBacter Clean in conjunction with Razor; I also ran a filter sock 24/7. After two weeks, my tank was devoid of any RTA and have had good results for the last three years.
Looking back, I think my microfauna/biome was way out of balance with near zero nutrients. Tha allowed the "bad guys" (cyano, dinos, RTA) a competetive advantage. I try to keep my PO4 level at something less than .03, and NO3 below 10. I took my filter sock off line, and reduced my skimming. My mixed reef is now thriving.