No, the other way around. When the lash gap at the tappets starts getting smaller it means that the eroding valve seats let the valves come up too high when they close. If the gap totally disappears, the valves no longer close completely and get burned by the combusting fuel.
I think that blueprinting means that the machine shop not only bores out the cylinders and turns the crank journals, but also straightens the crankshaft trues up and aligns all the machined surfaces of the block as specified on the manufacturer's blueprint to take out the biases that develop as a block ages. This is normal practice in a good machine shop, at least, it is in the one that has done my engines.
Bob S.