I think so. Imagine what you will see, when you load the final image into a pano viewer for example. If your camera would be directly on the floor, you'd see everything from an ant's perspective. Looking up is OK, but when you look down, you'd maybe see something like a macro shot (interesting thought btw).
I'd say most of us want to create some environments that have more or less human FOVs. So either something like 1.8m from the ground or maybe a camera placed slightly above a chair imitating the FOV of a sitting person would give the most natural results.