Not even slightly.
The need for a new design paradigm has probably been in the works for a long time. This had to happen now because of the 20th anniversary iPhone and, most importantly, because of the Vision product line. The 20th anniversary iPhone is a year a half away so they want as many apps as possible to adopt the new design language before then and for everyone to get used to it (it also gives Apple time to fully perfect it themselves).
We are quickly approaching the point where Apple hardware becomes invisible: either you're looking through the hardware with Vision products, or products like iPhone become bezel-less and converge on the "magic sheet of glass." Both of those future product categories will markedly feel different than current technology and Apple are intent on revamping their software to complement the new hardware era.
Apple have been super clear in their design guidelines that the point of Liquid Glass is to be a distinct character in the design language ensemble that "sits on top of the content layer" -- in other words, it is NOT for the content layer itself, it should be selectively applied in moderation for the most important control points. What they didn't really emphasize out loud is that "the content layer" won't just be apps anymore, it will increasingly be the physical world. The question that Liquid Glass answers, if any, is how do you make the perfect AR 'material' that doesn't feel out of place when superimposed onto the real world AND/OR digital content and remains legible when you can't guarantee what the 'content layer' will be (i.e, the real world).
Liquid Glass then is supposed to be the universal material and signal which tells the user "this is the thing I interact with to make stuff happen" whether it's the send button on their email app or a floating on/off switch that fades into view when you look at your lampshade with Vision AR glasses on 5-10 years from now.
That's why I'm so excited about it, this is the biggest teaser Apple have ever given us about what the next couple decades of their products will feel like.
(also; my bet is the new lensing effect we see on the iOS 26 lockscreen as you slide up to unlock will be uniformly applied around the very edge of the 20th anniversary iPhone's screen, where the bezel currently is on the 16 Pro -- to really reinforce the illusion that this device is a magic lens into the software realm)