Yes. Time skips can be done well, and are not objectively bad writing.
However, time skips are often used by lazy writers to bypass narrative problems. Allow me to use some hypothetical World of Warcraft sitations which, were they to occur, would be lazy.
The night elves and Horde peacefully coexist on Kalimdor 10 years after Shadowlands. We’re told that after Shadowlands, they both just got over it.
Pre-Shadowlands, the political landscape for the Horde and Alliance was relatively stable. The problematic elements within the Horde’s leadership were mostly gone, and the Alliance has been by and large a bedrock of political stability for 17 years, excepting Tyrande maybe being angry at Anduin. So we skip to 10 years later with old leaders retiring, new leaders taking their place, all so the next expansion can have more political instability.
It’s been ten years since we left the Shadowlands, and in that time a new superpower has arisen. They have taken over the former Forsaken lands and the former Night Elf lands, and now they’re the super big threat we face.
…
Each of these cases has a time skip that benefits the writer, but not the narrative. Hand waving reconciliation between the night elves and Horde so we can go back to a peaceful time between the factions on Azeroth isn’t a good story, but it’s an enticing skip over messy entanglements for the writer. Arbitrarily changing the leadership of both factions to get right to the political intrigue bits harms the intrigue itself by making it too arbitrary. The sudden (to the players) arrival of a long-established national superpower raises far too many logistic questions, skips over the parts that make this threat feel threatening, and favors conflict over world building. Interestingly, it’s similar to the Iron Horde (great superpower coming from nowhere) which by and large players agreed felt unthreatening and uninteresting.
So to sum up: It can be done well, but too often it’s used as a messy shortcut.