Partly yes. For me, a well-written whitepaper shows how professional a team is. Surely a good whitepaper can't be just bought somewhere. It has to undergo several reviews / proofreading to make sure that every single details in it is explained clearly.
On the other hand, a well-written whitepaper can mean nothing if the team can not deliver what they had planned to do with their project.
I've seen ICOs which are at first, good and everything seem to go as what they had planned and according to their whitepaper, yet the date comes and months had passed, still nothing. Words written does not compare to a work well done.