Yes, but the dots and cross hatch marks aren't always accurate to where the oil surface should be. Simply put, they're not that precisely manufactured of an item.
There is a lot of dimensional stack up tolerances that don't always come out right. The length of the dipstick itself. The length of the tube it fits into.
How far the tube is inserted. Where the top, (cap) is located on the dipstick. Where the lines / letters / and hatch marks are located on the dipstick itself.
If all of these dimensions are all off one way it adds up. Not only that, but there have been several cases where the dipsticks were flat out made wrong.
I had it happen to my Jeep. The 5.7 HEMI has a capacity of 7 quarts. When I changed my oil the first time, the dipstick showed a quart over the "Full" mark. (Same as it showed when I brought it home).
As it turns out Chrysler Jeep had a TSB on that dipstick. I took it in, (the dipstick), they checked the number and gave me a new one. I inserted it, and the oil level was shown to be right at the "Full" mark.
There were also additional TSB's issued for dipsticks on other vehicles and engines that were too short, that caused false overfilling as well. Bottom line, when in doubt go by the manual.