Yes. Manual page for `ssh_config` specifies:
> `MaxAuthTries`
>
> Specifies the maximum number of authentication attempts permitted per connection. Once the number of failures reaches half this value, additional failures are logged. The default is 6.
This is for single connection, that usually takes around a second (algorithm negotiation, key exchange).
For public facing ssh server, it is wise to set up something to avoid this, generally fail2ban is very common and useful technique -- for several failed attempts, it bans temporarily the source IP so unless attacker has a large botnet of IPs, he is out of luck with several attempts per several hours.