I think it can, but it is much harder for a GPA to offset an MCAT score. One issue you have is if your GPA is too high it almost hurts you more. (Of course in the end a higher GPA is always better) If you have a 4.0 and a 24 MCAT then they see a disconnect and wonder what went wrong. They consider if the college you attended for undergrad was too easy or your choice of major was chosen so that you were taking easier classes. Of course all of that can be checked by looking into other information on your application, but it does seed the question, "What went wrong?". Perhaps you are a bad test taker. Which is an issue since you will be taking even more difficult exams in the future.
It helps and of course the higher the better, but I feel like it works much better the other way around. If you get a 3.0 or 3.1 which might be slightly lower than you want, but get a 35 or 36 on the MCAT then that in my opinion is a better replacement than a 3.9 GPA and a 22 or 23 MCAT.
Also the above posters mentioned a
LizzyM score which is helpful when comparing. Just be ready for those above questions.