Of course. When we say 200 feet, it's the first 199 that are
important. As a rule, you should only attempt to land in what you can
see up to 200 feet agl. You've already been planning your landing
during the tow, now you need only execute.

Above 200 feet you have more options, one of which is to recognize the
conditions (wind shear, sink, low airspeed, tailwind on takeoff, etc.)
which may not favor a rote return to the airfield. But above 200 you
can start planning landings to known fields that you cannot see (not
necessarily the airport).