Depending on the vehicle.
On many older vehicles as the brakes wear, the fluid in the master cylinder goes down and causes a vacuum in the reservoir. This is why you sometimes will remove an older style master cylinder lid and the rubber seal has been pulled down into the reservoir. Yes on some master cylinders the seal is air tight and secure enough to cause a reverse pressure (vacuum) inside the master cylinder. Having an air tight seal at the top of the master cylinder is one way to combat any moisture from getting into the master cylinder.