Yes, however even though the smaller states have fewer electoral votes, each of those votes carries proportionately more weight, based on population. For example, one electoral vote in Wyoming represents about 190,000 people, while each electoral vote in California represents over 700,000 people. *
Same with the Senate, where every state (regardless of population) has two senators. Senators from smaller states have as much influence as those from populous states, who represent the interests of far more people.
And as previously mentioned, it is handful of swing states that effectively determine the outcome of presidential elections. States that are solidly red or blue (including both large and small states) are essentially ignored by candidates, because they are assumed as a given. Thus campaigning is heavily focused on the “purple” swing states.
Whether any of this is good or bad, fair or unfair, depends on your personal perspective. It’s the system we have and not likely to ever change.
*Source:
https://usafacts.org/visualizations/electoral-college-states-representation/