Yes. Quality boosts storage for wagons and speed for trains. Also unloading is more compact due to inserter belt side selection.
I did a 1m eSPM base though, and I don’t think the totality of all of that would bring me back to trains. Belts are extremely reliable, and I have never managed to make trains so.
Trains don't need to be optimal, they just need to be viable. The fun makes them optimal. I think the quality, speed, and belt improvements did enough to return them to this balance (but I have not played, so I can't say myself).