Not at all.
The 4th line center position is an important position that has its job requirements just like 1st, 2nd, and 3rd line center. It's not just "less talented" individuals who play on the 4th line.
The 4th line brings speed, physicality, forecheck, and sometimes secondary scoring. Derek Mackenzie did all of those things. Michael Chaput in his time up did none of those things. Chaput looked weak on the puck, he didn't play physically, he lost face-offs, and frankly even if Mackenzie were here I don't feel like he belongs in the NHL. He looked like a guy who tops out at the AHL.
I feel better about now having Gibbons, but we don't want to have to spread out the responsibilities that Mackenzie carried through the rest of the roster. It's better to have one guy who takes care of those things. Every minute that Mackenzie got was another hard minute that guys like Johansen and Anisimov didn't need to take so they could focus on offense.
When talking about 4th line center, there's a prototype you want and Mackenzie is exactly that to a tee. Letting him go over a million dollars or so is an unnecessary risk that Jarmo took.