I think so, at least for one day games when captain. I think Wasim Akram may have captained from fine leg at times. Its perhaps not a big issue with experienced bowlers, but having a proven performer at mid-on/mid-off (whether captain or not) can be a benefit for inexperienced ones.I think Mid On (trawling a few youtube videos which is frustrating and spotty way to try and find out ), most captains are either mid on or slip. It's the best positions to manage things from. 88 tests 28 catches rules out any significant time in slips.
But your avergae fast bowler, is hardly a great fit for slips or mid on.