That is a Hell yes from me as well.
After a long day or after a long flight and you are just not in the mood to go out, it is one of life's joys, maybe after having a long hot relaxing bath and maybe finding something good on television, to hear that welcoming knock on the door as your food and beverage arrives.

If the hotel has a bad restaurant then the room service food will be bad as well; likewise if the hotel has good restaurant(s) then that will rub off positively in room service. A caveat though I always go by is 'Room Service is Slow and Expensive' and if you are ever in a hurry it wont work.