Nope, going into standby is the same as logging off, since your client doesn't send keep alive packets anymore. (Not sure if macOS is an exception, because I think my MBP doesn't go into proper sleep if I keep Steam running)
I got one from work that I don't use much outside of travel and haven't changed in any way past initial setup. It stays connected to WiFi and continuously broadcasts various discovery packets for the past month and a half since I last opened it up.