I don't think so. We don't need mystical explanations for this creature.
A semi intelligent, shy, rare, nocturnal ape man that moves around a lot in small numbers? Could still be out there in our forests in North America. The popularity of the myth could then make many people then start seeing Bigfoot in their gardens and under their beds. I'm a firm believer that the human mind is hyper sensitive to the existence of "others". Probably a archaic knee jerk to when many many hominid species were all competing for the same resources IMO.
Anyhow like dropping a stone into a pond, we see a ripple effect go out from the impact point. I suspect that much of what is going on is thus. With the underlying physical reality still hidden from us, especially now with our very sedentary urban lifestyles. We do have examples of them being shot and even captured in old newspaper clippings. But as yet a body has not been produced for whatever the reason.
No, I don't think something mystical is taking place.