Yes.
Personally, I found that most of my storage was being used up by "digital hoarding". Over the years, I had amassed a ton of photos, texts, apps, etc. that I didn't need or care about, but subconsciously thought I did. So, when I got my 11 Pro I decided to leave my SE as storage and really let my active yes decide what I should have on the new phone.
I haven't thought of a single photo I wish I had on my phone, or anything else that I miss that didn't just get re-downloaded as a natural result of active use.
However, I understand this is a personal thing that results from my desire of being totally liberated from the past. Obviously some people will have family photos and such that they wish to keep. I would say, try and really consider the photos that you want and store them in a special "Keep" folder. After a few months of this, delete everything else and you will see that you really don't need that much storage on your phone.
An alternative is to back up all the stuff you would've deleted in the previous step - I really see no reason to pay for a large amount of storage on a phone.