Yes. At the same time, for fans of manga and anime, the downside is that all these rules are basically untranslatable into English. So, if you go for a more "formal" translation, a lot of this part of Japanese culture gets lost. The only way to preserve it is by translating into a more "Japanized English", keeping the honorifics and other Japanese terms. Some people prefer a more formal translation, but others (myself included) prefer a "Japanized English" version exactly so these cultural nuances in manga and anime stories aren’t lost.