Yes it surely has.
D&D has upped the fantastical to the Player character side of the game in a major way. It has increased the power, disentangled itself from the medieval themes of the past and added more uber_options, assumed magic items as the default rule - and has added an experience point chart that ensures the game moves to higher and higher levels - with even more magical options - more quickly.
It is, as I have recently ranted, become a game that has become more about fantasy Supes Without Capes, than it ever has been in the past.
Which is not to say these elements have not been present since 1st Edition, simply that they have been thrust more firmly to centre stage as the default presumptions in the RAW.
And I bloody hate it.
George RR Martin has described "magic" in fantasy settings as "the Salt". It is "the Salt" that sets the epic fantasy genre apart from being an historical novel.
The problem is that so many writers have added so much of it to their setting and tales - you can't taste anything else. All you can taste is the Salt.
In large part, I blame gaming fiction for this trend.
Like gaming fiction, that is what D&D has become: a plate of salt with a pinch of meat.
The roots of D&D lie in historical medieval miniatures wargames, with a dash of Tolkien, Vance and Lieber added in for flavor and coolness.
Over the past 33 years, that "coolness" has been increased; the dash of salt has been upped until the taste of it overwhelms every other flavor in the game.
The designers of D&D have lost their way.