Unquestionably. Same thing I think happened with Buffy seasons 6-7.
However it's next to impossible for me to separate these series from the experience of when I first saw them. S2 still seems to me to be the strongest season for DS9, and I think that's because of its sharp contrast with TNG by that point. Would a DS9 marathon today really show S2 to be the strongest? Probably not. But this was the year DS9's place in the franchise felt cemented.
I do need to watch it all again. Everytime I start, I get sidetracked. I mean I have the sets, have had them for years. But I look at a thread like this, and I think "Yeah... that was the year."