Yes there is. Certain typefaces are objectively easier to read than others, and some work better for certain content than others. Some are best for body text, some are best for headlines, etc. Some are optimized for low resolution screens, some for print (and as such work well on high resolution screens).
A great recent example that appeared on HN was the typeface designed for road signs, which the designers then put through Germany(?)'s test suite for legibility at distance in various road conditions and determined the new font was objectively legible at greater distance than all previous standard road-sign fonts with which it was compared.
