The answer to this is yes, no, kinda sorta, maybe,...... well you get the idea.
The angle of the pinion shaft and transmission tail shaft need to be at the same angle. They can be at different heights, but the angle needs to be the same. As long as they are at the same angle, the drive shaft is spinning around the centerline of the shaft. If they are at different angles the driveshaft is attempting to spin around a centerline that is not common to the driveshaft centerline. In other words its attempting to orbit that imaginary centerline.
This will cause vibrations and can cause the bearings to fail as the they are being subjected to high loads off center to the shaft centerline.
The other thing that can happen is sometimes when individuals revise their driveline geometry, the pinion shaft is tilted at an upward angle and the grease from the rearend no longer reaches the bearing causing it to fail.
Hope that helps.