Yes. It’s what the entire thing looks like when it’s all taken together. But if one of those things is low, the other parts have to be even more compelling.
And - I suspect that while you can get in with a less than near-perfect stats (GPA, test scores) as long as the depth/type of ECs, LORs and essays are outstanding, the opposite is not generally true. IOW, I don’t think many of the 4.0/1600/36 kids who have weak ECs or a bad LoR or meh essays are getting in.