I have never seen evidence that this is true in general. The field I got my PhD in has breakthrough papers with titles like "The Euler Equations as Differential Inclusions" and "Bounded Gaps Between Primes". Would people in the field be worse off if breakthrough papers had titles like "Attention is all you need"? I'm unconvinced that they would be. Would politicians be more likely to win office if they made fewer promises on the campaign trail? I'm unconvinced. Are you more likely to get a job if you are meticulously fair in how you describe your background and experience, or if you puff yourself up? I think the world would be a better place if folks biased themselves in the direction of under-promising, but for any individual person I'm pretty skeptical that this is good advice.