It does, it also causes more damage to your lungs in a couple of ways.

One, the cool smoke reaches deeper into your lungs. Two, smoke being cooled down too much does increase how resin builds up.

So not only will you be sending tar deeper into your lungs, you’ll also be increasing the amount of tar that actually gets deposited in them.

Plus there is the possibility of thermal shock obliterating your bong, but I’ve been a stoner for at least a decade and have literally never seen it.