Yes.
If the script “forgets” about the connection and moves on, doesn’t properly disconnect it or properly destroy the instance, it may be classified as a memory leak. In the example @Viscxse showed, the tool.Unequipped connection keeps being created on each equip. That’s most certainly a memory leak. By the time the tool is removed and destroyed, there may be dozens if not hundreds of useless unreachable connections.
I suggest taking a look at the tread I attached in my first post.
MarmDev, sorry for another quote ping.