There’s always a balance between visual design and functional design. Many of the “rules” of design as we know them exist to make visuals more functional.
Short answer: probably not. Its popularity may have more to do with the “bigger minimalism trend” than usability, says one expert.
There’s a growing demand for designers to make their interfaces accessible to all users. It’s important to accommodate users with disabilities, but there are many myths to color contrast accessibility being perpetuated by misinformed people.