Sorta, it’s also a mental image thing and a visceral reaction. Like fear of clowns or trypophobia, there are valid reasons for the visceral reaction (being moist in certain situations can be quit4 uncomfortable and in some rare situations causes at least minor irritation or injury), but usually don’t apply for most circumstances. Clowns aren’t dead people, and most bunch of tiny holes aren’t insects or disease… well, maybe a lot of them are insects.
Visceral reactions are uncontrollable, so while it may be propped up a lot as a joke on the internet, I think it’s a bit condescending to assume something that doesn’t bother you doesn’t actually bother some people for real.