Well, if it's completely dry before plugging in, it can definitely get rid of dirt. On hot surfaces it sometimes gets baked in and compressed air is too little
There's an old video on derbauer's channel where he throws his motherboard used for ln2 overclocking into the dish washer and explains how it's actually totally fine if you're not stupid.
I would suggest dumping it in a 99% alcohol bath afterwards if you're gonna wash electronics in water. Alcohol will push out any water that gets stuck in any nooks and crannies and then it will dry without any residue.