Yes, it does.However does the above action mean that I am saved on John Smith's DNA list?
There will also be 3rd cousins who you don't share DNA with. I even know of two 2nd cousins once removed who don't share DNA.This is important as I regularly use the little mentioned facility on Ancestry where I share my DNA matches with other users (as viewer) and ask them to do the same in reverse. This is very useful for distant cousins as they often share DNA with mutual cousins that do not share with myself.
I have found literally dozens of 4th, 5th and 6th cousins that I have found by normal paper research that do not share DNA with me but have taken a DNA test and share DNA with other known DNA cousins.
Sharing matches as a viewer is better than nothing, but it's frustrating not to be able to make notes. Perhaps you can persuade your cousins to upgrade the relationship to collaborator?