Yes, I have seen a dramatic increase in my "faucet" income, even from the few referrals I have.
Most of the sites give a 50% referral income per hour, so if the payout rate increase, your income from your referrals will also increase.
If managed correctly and if the price of BTC is low enough, you might even make a decent income from having a "active" referral network.
People who knows about the link between payouts and BTC price, will also use faucets more, when the price is low and the payouts high.
