In a word? yes
Characters with fast special mids (JC, Kabal, Shang, etc.) can straight up full-combo punish d1 on block if they're scouting it and have god like reactions (it's like a 2 frame window that happens instantly as the d1 connects on block). This isn't normally how it happens in practice, however.
This isn't due to any special characteristic of Smoke, though. Universally, the game mechanic is that d1 and d3 have (essentially) 0 block stun giving the entirety of the recovery of the move in advantage to the opponent. Smoke has the "good" set of pokes where d1/d3/d4 are 6f/7f/12f in execution, +1/+3/+15 on hit and -13/-7/0 on block. There are slight variations in this set of "good" pokes across the cast but you get the idea.
Then there are characters like mileena and scorpion who's pokes suck; Mileena's d1 and Scorp's d4 are -6 and 0 (respectively)
on hit
Normally, the way this mechanic is applied is that when you block a d1 you can punish it easily with your own d1 or d3
so to more fully answer
Death 's question, Smoke's d1 looks like this:
execution: 6f
hit advantage: +1
block advantage: -13
I can't tell you what the cancel advantage is on hit/block; we need someone like Somberness for that.