Incorrect use of a strop, either with poor technique or trying to use it in a mode it can't accomplish, will ruin an edge. Properly used it works great for refining an edge and doing some light deburring. Over-reliance on it for deburring will often lead to problems maintaining apex geometry (edge will round).
Either way in most cases it will lead to a more uniform edge, so if intending to craft a super catchy, toothy edge it can compromise your results.
Stropping changes character quite a bit as you go from one method to another, some forms use more of a lapping action, some more of a grind, some more of a sanding action - it all depends on how hard the backing is and how much mobility the abrasive has. In general on a firm leather strop, one is best off refining the edge on a stone very close to the rating of the stropping abrasive and using the strop only a few light passes to effect the apex. The overall effect goes all over the map as you change variables and can really push (confuse) the definition of just what "stropping" is.