Just standing back and wildly flinging at long targets won't help at all. But...

If you can determine your 'point on' distance, then there is certainly a lot that can be learned. When you practice at your point on, and reach the point where you are starting to group, you will have begun to acquire a consistent draw length. Arrows just won't group otherwise.

Back when I was competing in field archery a lot, I used to practice shooting at least 20 arrows a day at my point on, which was 60 yards with the setup I had then. I could keep them all in a paper plate at that distance. Naturally, my shooting at closer distances benefitted from that kind of practice.

It helps to have target butts that won't destroy your arrows when you hit the frame though. At my old club, the target frames were wood. Left a lot of points buried in the wood, but it rarely hurt my arrows. The club I belong to now has metal frames and a solid hit on the frame totally craters an arrow. So I haven't practiced long range shooting in a long time. And my shooting has suffered for it.