Hello!
Yes it can. I advice you to read BEAST 2 book
http://www.beast2.org/book/ where authors comprehensively consider the question of clock choosing. You also can check tutorials on BEAST 1 and BEAST 2 websites, there is a lot of information about the clock comparison out there.
You can always verify the coefficient of variation (CV) in Tracer employing relaxed clock. If CV is about 0.1 it indicates that strict clock fit better (there is no significant rate heterogeneity among branches).
Biological implication is that you study closely related organisms. In other words, why your substitution rate should be different from my if we are both
sapiens sapiens? :)
Sometimes when the specific lineage has very different rate it can indicate bad sequencing or dating.
The similar intuitive mistake is about GTR model as the most fit model (since it compute everything that can be computed)
Regards,
Artem