Yes. The iPhone to MMS connection has filesize limits that basically make sending video horribly compressed, and even still images are visibly limited in quality.
And then message reactions aren’t directly supported in MMS, so it becomes a clunky communications experience between iPhone and Android texting.
There’s also delivery confirmation, read receipts, and other indicators in an iMessage chat that aren’t supported in MMS.
The color of the bubble is a subtle UI indicator of what features are supported in the chat.