Not meaningfully. What's important with blocksize is that we have a social consensus that prioritizes innovation rather than blindly increasing it.

But the exact value isn't very important, and reducing it isn't likely to change much. In fact, I suspect we're seeing exactly that right now: Bitcoin probably has very few use-cases where people are willing to wait long amounts of time for a confirmation. So rather than develop big backlogs of mempool demand, people have just changed how they use Bitcoin to the point where there's rarely a backlog. Reducing the blocksize even further wouldn't increase fees significantly.

Better to pay for security by taxing a small % of all wealth, so we're all contributing equally.