Yes, of course. Fundamentally the end goal is to improve the app’s quality. However “quality” is not a measurable thing. Therefore, someone observed that as test coverage goes up, bugs tend to decrease, and as bugs decrease app quality tends to go up. So they make code coverage a KPI, and start putting pressure on developers to increase it.
The problem is that once people are pressured into optimizing a certain number, they will get very creative at doing so. And this creativity often breaks the measure’s relationship with the actual underlying quality we were trying to improve.