My intuition says that if I were to burn an mp3 to a cd, rip it, burn it, rip it, burn it, etc. etc. etc. several times, an mp3 would suffer from digital generation loss as JPEG images do with multiple edits.

Is my intuition correct? I've never heard of digital generation loss in mp3s, but I just started thinking about it a couple minutes ago and it seems like it would happen.