As someone who was crazy about magic as a kid and learned a bunch of magic tricks, yes, it does. Really.
As someone else who was crazy about magic as a kid, I feel like that just made magic even more magical. Having an understanding of how magic tricks work lets you really appreciate the art and be truly wowed when you see a trick you can’t figure out.
I still appreciate it, but the “magic” is gone. It becomes an intellectual and physical challenge once you understand the mechanics behind slight of hand and other forms of stage magic.