My god, yes. I had knee and ankle pain while running, then also while walking. Too much padding was allowing me to walk incorrectly. After being ‘prescribed’ flat, flexible, low-stack shoes, all the pain went away. My toes are more spread out and my abductors are thicker. Nice gains!
(Still, your mileage may vary, I included lots of exercise specifically for the transition. And still run in Altras.)