Yes, this is the same psychology at work in climbing.
Leading a route with several meters of runout and a serious chance of decking it if any of your gear unzips is a *totally* different prospect to doing the same route solidly protected from a tree-based belay from above.
The moves are the same, the climb is no more difficult.
But the consequence of screwing it up are substantially significantly more serious. And it has a profound effect on what you will attempt.
-- Ron, a 'Dope on a Rope' from time to time...