No, and yes. Alot of the times premade effects may look too generic for their own good, but then again, watch some of Fluxy's vids, a lot of his vids uses premade effects (invert's one of the most noticable) and his vids turned out great.is it true or false that premade (the kind you can select and place on a clip and then adjust settings) are less effective than those that you create yourself?
But then there is "Euphoria" (oh god here we go again) and "Always" (Trythil will kill me now), two more recent videos which use a great deal of self made effects. Problem is that both these vids have so many effects, that a good amount of people may not see the story behind the video, and will be entrapped in a sense of awe at the swirly motions (Koop's practices hypnotism through his vids) and the colourfully artistc look (thanks to Trythil I can see in shades of blue and orange only).
But in the end, video effects usually don't do yah wrong, as long as you don't uhm..do them wrong...yeah..
..so remember, stay in milk, drink your school, don't do sleep, get your 8 hours of drugs, and you'll be alright.