I believe it. I have seen people circle parking lots multiple times or sit parked in the middle of the road waiting for a spot to open up rather than just drive another 5 minutes farther away and then walk.
I lived in a neighborhood ~5 years ago where I didn't have a dedicated parking space. I generally had to park a 10-15 minute walk away from where I lived. Many people would rather just circle for 15 minutes instead.
If you parked 15 minutes away, and they circled for 15 minutes, they came out ahead - because they would have a short walk back to their car, you'd have a 15 minute one.
People like convenience, they don't like being reminded they often have to pay for it.
For example, people are willing to pay more for a dedicated parking space than they are to pay per use - even if they're basically the same.
This gets pushed to a ridiculous degree at costco. They actually cause congestion waiting three deep in the rows for one spot to open up. Meanwhile I will skirt around them, park immediately in the ample available parking around the back where the employees take their smoke breaks, and walk right into the store probably while they still wait and stew.
I lived in a neighborhood ~5 years ago where I didn't have a dedicated parking space. I generally had to park a 10-15 minute walk away from where I lived. Many people would rather just circle for 15 minutes instead.