Yes, the "bypassing" of electrolytics is important to their longevity in this stuff. *Way* overlooked (possibly intentionally?) even in commercial versions of... everything.
It applies in either direction - On the supply side, they're needed to help soften the blow that the lytics have to provide at each turn on cycle of the switching mosfets...
Likewise, on the output side (in the case of a DC supply), they're needed to catch the initial hit coming out of the rectification.
I make it a point to try to put at least one bypass cap across every electrolytic in everything I can, and it certainly improves both operating temperature and in turn, life span of the electrolytics. Tantalum for the lower voltage end of things, mylar film on the higher voltage stuff.
Inductors [typically found] between electrolytics simply aren't enough.
Also, as Oz's observations demonstrate, you're better off in terms of overall ESR and heat by using multiple smaller caps in parallel rather than fewer larger ones. This isn't to say you can't also have the larger caps, but putting them further away from the "front line" (but not excessively) and letting the smaller ones take the switching abuse will improve overall life.
You're dealing with 2 different types of transient in things like inverters - the higher frequency spikes for the switching itself, and "slower one-off" surges for things like starting motors and such. The larger electrolytics are much better suited for the latter.