The skill set to be an excellent soccer player is different than the skill set required to be an excellent basketball, football, or baseball player.
However, I do think it hurts us because (1) our player pool is much smaller than it could be if soccer were the biggest sport, and just by simple math, more players increase the chance of top tier players; and (2) what you see in places like Brazil and other soccer nations is that everyone plays a lot, so people spend much more time on the ball and develop better technical skills.