Yes and No. Water changes will help get rid of the phosphates which are causing the algae (presuiming the new water doesn't contain phosphates). So doing water changes will help get you past the algae bloom stage. However, by not doing water changes, you let your tank balance out... i.e. the tank converts the phosphates or critters eat the algae or whatever happens is a balanced tank. So it's really up to you.
Doing water changes will speed up the startup time, but won't let your tank really balance out.
Not doing water changes will cause very lengthy startup times (6mos or more), but will result in a very well balanced tank. This is better for the tank in the long run, but most people, including myself, don't have the patience to wait 6 months, maybe more.
