Not even a little bit. Gorb had started the process of privatization but the CPSU still held enough power to say "well, that didn't work" and revert control of major industries all the way to '91, but chose instead to double down on neoliberalism and keep making things worse.

By the time of the coup attempt against Gorbachev, it may have been impossible to salvage things without sparking a second Russian Civil War, but that's something we'll never know.