Kind of yes. Stacking two stochastic processes simply adds up the expectation value but not the noise/dispersion/volatility. That variation adds as a sum of squares.
If you push utilisation towards 1, what you essentially do is push the next "free" slot farther and farther into the future. This, essentially, means that you always buy higher utilisation with longer latency (at least in the upper bound). But the good thing is: If you have enough numbers, then the maximum latency grows slower with utilisation.
If you push utilisation towards 1, what you essentially do is push the next "free" slot farther and farther into the future. This, essentially, means that you always buy higher utilisation with longer latency (at least in the upper bound). But the good thing is: If you have enough numbers, then the maximum latency grows slower with utilisation.