Not really. It interferes with the normal process of breaking down organic matter into nutrients for plants by killing off some forms of bacteria and other forms of life. It's true that it spurs plant growth, but it leaves the soil more sterile and infertile than it started as. The runoff as the soluble fertilizer follows rainwater creates more problems in the watershed further downstream, spurring erratic and unintended plant growth in the streams, rivers and lakes.
