No. It doesn't. If you want a mod, you download it. If you have to make an account to download a mod, you'd make an account. But nobody is going to bother registering an account just to endorse. Endorsing a mod doesn't benefit the downloader in any way. All the downloader wants to do is mod his game and leave. Registered users (in general) care more about the modder. They want to keep the modder interested in working on the mod. So they endorse. In conclusion, the majority of downloads are from people who don't give a damn about anything other than downloading the mod. This invalidates the ratio.