Yesssz
Smash Bros Melee had the smoothest jank any fighting game's ever seen.
It's why people still do tournaments hardcore over it now. With each game after it they tried to introduce elements to give casuals an advantage, like how Brawl added the slipping mechanic if you turn left and right too fast and also added floatier air physics to appeal to casuals.
Fans recognize that the only hardcore game is Melee, and the rest are fluff that entirely miss the point. I'm personally a fan of Brawl, I'm a Lucas main, but I understand how my belief in that is wrong over how Melee is the superior game.
With Smash I understand floatiness but it's the way every action game added floatiness to copy DmC that I don't understand. Even original DmC was supposed to be more like Resident Evil before it turned into combo scoreboard shit. I think it's just appeals to the dopamine of the consumers to have crazy physics even if it means you're floating in the air hitting an enemy a million times as if your weapon is made out of foam. It's why I liked KH1 over KH2 cause KH1 felt more like an rpg and KH2 felt more like DmC, although KH2 wasn't too bad and not the worse DmC type game out there. And also the Watchmen End is Nigh game was fun combat wise even if the graphics were beyond horrible.
So when you hold down in any of these games, it increases your fall speed. In a game with heavier gravity, this has a much heavier impact on the outcome of games. When in midair you have an entirely different moveset, equivalent in games like Tekken to a stance change. Some moves are a lot stronger in the air than the on the ground input of the same buttons, and vice versa, so some characters benefit from shorthops a lot more than others. Adjust the gravity, and you adjust the shorthop speed, meaning you affect how quickly they can change stances.
This shit goes deep.
It's why Melee has had a competitive scene over two decades old in spite of Nintendo trying to fuck it up. It's why the Youtube scene for Melee is still going strong with people making their entire careers off of it.
It's a difference in Frame Data. It's a huge deal.