To definitively answer the question you would have to look at hundreds or thousands of engines and compare the gasket failure rate for those that were re-torqued against those that weren't. Failing that, I will say that these engines seem to have a propensity to blow head gaskets. It's entirely possible that the re-torquing does nothing, and the factory knows that, but they also know that most people don't do it anyway, so they only recommend it so they can blame you for the gasket failure when you don't do it. Or maybe re-torquing is the solution to head gasket longevity. Who knows.
I will offer my experience though. I did not re-torque my head bolts at the 50-hour mark, which is what was recommended for my tractor when it was new. At around 400 hours I had to replace the head gasket. Once bitten, I followed the installation procedure to the letter: I torqued it to the specifed torque, ran the engine until it was warm, let it cool off, and then re-torqued. After another 50 hours I re-torqued it again. When I put the valve train back on the valves were so tight I had to loosen the adjustment bolts substantially to get any gap, at first I thought I must have it misaligned it was that tight. So in the second re-torquing the head moved significantly closer to the block, which means that the gasket compressed significantly during those 50 hours. Will this gasket last longer? Since I use my tractor about 100 hours a year, it will be a while before I can tell with any certainty.
Some people recommend marking the head bolts with a pencil to see if they move in retorquing. They have a 1.5mm pitch, so each full rotation is 1.5mm, you can estimate how much the head moved by the fraction of a rotation the bolts tightened. I'm not sure what the practical use of that knowledge is but it does let you know if the re-torquing is doing anything.