No, it does not.
Many services such as Internet Radio, MTV, VH1, BET, many traditional radio stations, and many others still require submission of song and video files that are fully embedded with correct META data (your ISRC, UPC, Artist, Title, etc.). Fully embedded versions of your files are also highly recommended for your submissions to the U.S. Copyright Office at Copyright.gov so that the file is copyrighted with all of your codes and information already in it.
Therefore, it is our recommendation that you have a set of stripped and a set of fully embedded versions of your audio and video files. This way you are ready for submission to whomever wants it either stripped or fully embedded.