Well, no it didn't. Galveston was the only Texas port that did much in the way of any sort of exports prior to the war. What railroad system there was in Texas funneled goods to Galveston. So the 68,000 bales exported out of Galveston represented virtually all of the Texas cotton production and that doesn't seem to be much of a reason to base a campaign on.
Much to the contrary. Had Sabine Pass not halted the invasion from the gulf, there would have been no Red River campaign.
And had either campaign been wildly successful it still wouldn't have brought about the southern defeat any earlier.
Sure it would have. The last part of the confederacy to fall was Texas. They did not surrender until June 1865.