Yes yes yes!! There's this great essay from Stephen Jay Gould on why we haven't had 0.400 hitters in baseball for so long. His argument was that the overall pool of baseball players got too good so you're not seeing strong outliers anymore! I'd say that this is a phenomenon we see across all kinds of life, not just sports.
From a paper reviewing the evidence of Gould, I can't find the original essay online:
>Gould then supposes that the decline in batting average peak (the .400 hitter, the outlier) is due to decreased variation in the population of hitters. In other words, as the skills of both hitters and pitchers improved, and as the pool of talented players to choose from increased, the variation in talent (the difference between the best to the worst batting averages) should decrease. Therefore, players in Major League Baseball in more recent period are arguably reaching the “wall” of human performance. Gould’s analysis of the data supports this idea, as the standard deviation of league-wide batting averages has decreased steadily since the early 20th century.
https://sabr.org/journal/article/can-stephen-jay-goulds-theo...