Yes, but making it easy encourages this practice, whereas now you have to make an effort, and it might give the impression that the "official feature" to "hide" things would take care of all your settings to make the intended effect consistent, like that checking this would also change the rss behavior for this entry or somehow include no indexing robot instructions or prevent it from appearing on the "latest" page and all that. Like an integrated thing taking care of everything when you check the box.