No it's more like a green flag-one that welcomes buyers. Many buyers look in a set price point, say $750K or under. If the home is asking $800K it hasn't been exposed to those buyers. Reducing the price often introduces the home to a new group of buyers-which is likely to result in a sale.
No offers after 30 days on the market means the market is telling you, "This is not the right price." While it could be poor marketing, if it's on the MLS and accessible but no offers, price is what needs to change.