Yes, significantly. One of the biggest draws of football, for better or worst, is the tackling. People watch to see the big hit and the great escapes to evade the tackling. Here is just a single example: https://www.youtube.com/watch?v=s8geJp5mVLA

If the game used flags, the quarterback would have almost certainly been down. Instead he runs for a first down and keeps his offense on the field.