Personally, I'd rather a team that hires based on meritocracy than gender.
A large company without females at all would be quite suspicious, to say the least.
A lack of meritocracy causing of a lack of female engineers is ignorant.
There are plenty of meritorious but under-represented populations; especially female engineers. A culture without enough women or without a plan to hire women is a red flag. Surrounding yourself with people that support [your] unsubstantiated biases increases the likelihood that the culture is unhealthy.
Are you also concerned about the lack of female plumbers? Construction workers? Miners, perhaps?
For dev jobs, both the problem visibility and remedial actions are obvious to me.
To answer your question: yes
Also, these industries are male dominated because they require hard labour and working conditions, which is often biologically unsuitable for women. Even then, in South Asian countries you can find even ratio females to males in construction work. They do the same hard labour as men, and as the use of machinery and automation is rarer (in these regions), it's even more manual hard labour.
Do you evaluate potential workplaces based on the number of hispanics, blacks, Australians, Irish, Jews and Muslims as well?
Because on the one hand I agree with the sentiment, but I also agree with the original statement that having a decent sized team without women is a red flag. Every place I've worked, even if in development there were few women (due to, yes, it being hard to find them), there were plenty as product owners, as QA, or as UX. Whereas the one place I can think of that I worked that only had one at the time I joined (the marketing person, for a small startup of 20 people), it was quite toxic and unwelcoming when they later added a female UX.