Does L2 marketcap/liquidity affect L1 marketcap/liquidity?

I’m trying to better understand L1 and L2 protocols. My question is, does the market cap or liquidity rising on a L2 cause ETH’s overall market cap or liquidity to rise as well?

I’m thinking of it like Dr. Dre (L1) and Eminem (L2). Whenever Eminem puts out a project, Dr. Dre is getting a cut from that.