It does, and the more that it seems like that, the more vulnerable he becomes. You don't fire people investigating you unless you are worried about what they are going to uncover. Even if Trump didn't collude with the Russians, he is acting like he did.
At some point, everyone is going to just want to get the hell away from him to save their own hides. Couple a friendly conversation with Trump with one of his suspicious actions, and you are going to find yourself in the hot seat. Then, once in the hot seat, if you don't follow Trump's marching orders, his administration might start looking for ways to discredit you.