Yes, it does. And usually, that area isn't too crowded. We like to sit on the benches across the street from LTT or on that rock wall if a bench isn't available. There are rocking chairs on the porch of LTT that would be awesome if you could snag one of those.
Just beware that if you want to see Wishes after Spectro -- Spectro doesn't finish in Liberty Square area until about 40 minutes after the official start of the parade, since it begins in Town Square. By that time, the hub, Main Street, and the surrounding bridges and walkways are jammed for the fireworks. Once I tried to fight my way through the sea of humanity to watch the fireworks. I ended up almost in Town Square before I could find a spot to stand. Last week, my sister & I didn't feel like battling that crowd, so we watched Wishes from in front of LTT. It's a very different perspective. Not bad, but you don't get the full effect, which might not be great if you've never seen it before.