I would say it makes it more dynamic, not less. It does reduce gain a bit - so if your idea of 'dynamic' is "as loud as possible" then it does reduce that - but my idea of dynamic is "more responsive to changes in technique, guitar volume and pedal settings". It also widens the tone and makes it deeper, clearer and less midrangy.
I've put 12AT7s in the PI in every Mesa I've ever owned, and some for friends and customers, and it has (in my opinion) improved every one of them. Perhaps if I was looking for all-out rock/metal tones I would think otherwise, but I'm not.