Some areas do, some areas not so much.
I have a colleague that's incredibly strong with databases (we use a mix of MySQL and PostgreSQL) and he's living off the learning he did 20 years ago when he was a junior Oracle consultant.
I live off the learning I did in Linux now that I administer Kubernetes clusters for a living. Once you get past the "cloud native" abstractions (and other BS) it's penguins all the way down, and I get to reuse most of my core Linux competencies I learned 10+ years ago (eg: I do tcpdump in prod, and it's quicker and more effective than many of the modern shiny tools).