hooks – Is it likely that do_action will have unexpected results?

I’m trying to understand the hook system. According to wordpress codex, do_action executes all hooked functions. So

do_action('hook_name',$arg1,$arg2,$arg3)

will actually pass all the args to all of the hooked functions right? And I think different plugin developers can all hook their function to a certain action. So when one of the developers call do_action with the args that are meant for his function, these args are actually passed to other functions that were written by other developer, won’t this potentially cause problem?