No, the pcv reduces crank case ventilation when there is vacuum. When there's a positive pressure in the crank case, the pcv is open and allows crank case gasses to escape, which for smell and emissions reasons are dumped into the intake for the engine to burn on the next combustion cycle. Burning these gases is not where your valve sludge comes from.
When you're on track in a very high G scenario, oil will blow out of the pcv valve when off throttle (vacuum) and through the connecting tube into the intake. If you put a catch can inline, then gasses still flow, but oil will get trapped in the can. When on throttle the pcv remains in stock function. When you replace the pcv, you're now allowing ventilation at all times, which is why it will catch so much "gunk". You're not doing anything to extend the life of your engine or keep clean valves or anything by collecting this extra gunk, and if you didn't catch it in the can, it would have been a gas that burns and evaporates. A lot of it is water that would have otherwise evaporated.