Hard to tell without knowing more. However generally NO! It's similar to accepting a pay reduction. You accept more responsibilities for no additional expense

Hard to tell without knowing more. However generally NO! It's similar to accepting a pay reduction. You accept more responsibilities for no additional expense to the company. Rewarding them for bad behaviour. It also signals a lack of commitment to the role and title. There will be an undertone of "whatever .. that's just a title". And that will go both ways, you will feel like a "fake" team lead and they will treat you as "the developer with the fancy title that we blame when needed".