This really can't be answered. It depends on many different things.
Jeff Monson doesn't seem to have an issue with it in Submission Grappling and Baroni doesn't seem to be hindered in striking. It's how you train it,natural ability, etc. It can definitely effect cardio to a certain point. You need to feed your muscle oxygen. The more you have, the more it takes. There are to many factors to say yes or no. It has benifits and disadvantages in different cases. ...imo