No.
'I play way too much blitz chess. It rots the brain just as surely as alcohol.' - GM Nigel Short
Does bullet chess make you a worse player?

Incorporating bullet chess into your training regimen can be beneficial as long as you approach it with the right mindset and prioritize a well-rounded approach to chess improvement.

I don't know. I didn't like bullet when I tried it, but I found 3, 5 and 10 minute rapid good games to play. However, I play much better at the daily levels (1 day and 3 day). The daily game feels much more like chess to me.

If the goal is to understand chess better, then bullet is terrible. A constant diet of it, and no study, will keep you stuck at a very superficial level.
It's its own domain really. It's more of a chess variant.

Incorporating bullet chess into your training regimen can be beneficial as long as you approach it with the right mindset and prioritize a well-rounded approach to chess improvement.
IMO bullet is just too fast for club player types to be beneficial in any context, other than the context of getting better at bullet. If you had said "blitz" I might have agreed.
Should you play bullet at all if you want to become better at chess?