Sure it is, they're just different manifestations with different side effects. The root is the same misunderstanding, the combination of underestimating the market and overestimating your shitty product. They did the same thing with an entrenched product with Final Cut Pro.
People want to say this kind of thing never would have happened with Steve in charge. Nonsense. This kind of thing did happen with him in charge.
Apple fucks up a lot. They're just great at making people forget within 6 months.