Kind of, that's more of side effect than the purpose. The purpose is to put the engine in it''s powerband at various road speeds, eg.. say in a drag race from stall to shift points is 2500 rpms wide for both 340 and 440 say 4000 to 6500 rpm vs 3000-5500 rpm obviously the 340 needs more stall and gear than the 440 to put it in it's powerband. But it could be just driving around you want to be able to easily access the powerband at various speeds (gearing)
Think of it this way, Starting at the tire say your putting X hp/tq to the ground at Y speed, so that's the constant between various engines displacements,.The Different displacements and they various efficiencies etc.. with different tq and rpm ratios, no matter what will to equal out with gearing or otherwise your not putting X hp/tq to the ground at Y speed.