yes... but there is no real reason to not get 20 or 18 in your principal stat
There are actually quite a few reasons not to boost a single stat above a 16 pre-racial. The biggest may be because if you do, you'll suck at anything but attacking, and in many case you'll end up sucking at that too because you'll be conditioned, don't qualify for feats or dead. Unless your DM runs the game like a video game, the only classes that can maybe get away with a post-racial 20 in their primary attack stat are some rogues, wizards, archer rangers and maybe certain swordmages.
Defenses, skills, riders and feats are also vital to a character. I'll give you an example: a Githzerai Fighter, build him for LFR. One feat gets you a Fullblade w/ +2 damage, sweet. You have a Wis/Dex bonus to work with.
Buy an 18 in Strength. That's what, 16 of your 22 points to buy? That leaves you six points to spread around. Leave dex at 10 (12) and go with scale. Boost Wisdom to 14 (16). Throw the "extra" point in Con to grab an "extra" surge at level 8 finally.
Your attack bonus/damage and Fort will rock. With Impiltur background your starting HP, will, atletics checks (armor penalty) and perception/insight will be decent. Your speed will be 5 and your surges and everything else will suck. Your reflex defense will be dwarf bad. You really become one-dimensional. And you almost feat lock in to toughness and durable for your first two levels.
Now, take the same character with a 16 Strength, 13 Con, 16 (14) Dex and 16 (14) Wis. The fighter weapon talent and +3 proficiency weapons mean you'll be hitting plenty, the single racial feat also makes up for the +1 damage with a +2, you have an extra surge (and still get another at level 8) and you have a choice of being in position for more feats. And you don't have an entire "dump" defense.
And you have flexibility to still do some things. Want to keep speed 6? drop the Wis to 14 (12), up the Dex to 18 (16), keep the "extra" surge and wear light armor without all the nasty armor penalties to skills too. Go tempest or great weapon or sword & board, it's all good.