It plays a role, for sure. But consider this, too: all that saltwater between you and KVYB also means that there's nothing else on 103.3 between you and KVYB to stop the signal from getting to you. On a very, very open channel, you can hear very, very weak signals that wouldn't exist listenably on a more crowded frequency.
In the late 1980s, I lived in a valley some 30 miles east of Bishop, California, up in the Sierras. The FM dial was nearly empty there at the time, and as a result I was able to get reliable daily reception of some signals I never "should" have been able to get there. On 90.1, for instance, I had regular usable reception of KCBX from San Luis Obispo, at least 200 miles and two mountain ranges away. That was almost certainly "knife-edge" reception, with the signal bouncing from mountaintop to mountaintop, and it probably exists in a lot of places...but in most places, the weak signal coming in from knife-edge is wiped out by stronger co-channel signals closer in. I was lucky enough to be in a spot with nothing much local to get in the way.