Yes it does, compression may be good, in fact with the modern “Gold” ring compression rarely suffers.
But piston wear will create extra slap which is bad for top end performance not to mention the chance of skirt breakage. Main bearings also lose power after X number of hours.
I’d have competent builder look that guy over. 16 hours is a lot on a yammie. It may not need a total rebuild but as said above if it goes boom its going to cost way more to fix. Preventative maintenance is the key to both power and longevity.