No, definitely not.
This theatrical cut has its own qualities, with nearly every episode, and remember it is an episodical film, ending in a fatalistic bloodbath. And being episodical the film is less hurt by the cuts compared to every damage done with every minute cut out of TWB, in which with every cut the balance is destroyed more, and the ending works less.
The theatrical version loses some of its complexity, and it is a pretty complex western, but the overall vision is there, it is visible for those who are able to see.
Actually I was disappointed by the turner version cause so many things did not work that good anymore like in the shorter version, and instead that the film got better for me, it somehow dragged. The only great thing was the beautiful opening montage, and that's the biggest loss of the theatrical cut.
Actually the opening montage and the Chisum scene are the only really important additions. I could live without the others.
And this bunkhouse scene, the only one not told from Pat's or Billy's view, is a real narrative problem anyway. And a weakly directed one anyway.
And I wasn't the only one who loved the film in the theatrical cut, and it was for me in that version already Peckinpah's second masterpiece.
But unlike Major Dundee, which I watched first in a 114 min version, which got better with every added scene, the new scenes did not improve the film as long as they worked against the film's rhythm. And for that the 2005 cut is so far the best compromise.