No, that's pretty much completely wrong. For example, look at one of the key characteristics of feudalism, serfdom[1]:
Serfdom is the status of many peasants under feudalism, specifically relating to manorialism. It was a condition of bondage, which developed primarily during the High Middle Ages in Europe and lasted in some countries until the mid-19th century. Serfs who occupied a plot of land were required to work for the lord of the manor who owned that land.
OTOH, Libertarianism is explicitly based on the idea of self-ownership and rejects the idea of that style of bondage (although certainly allowing for debt, and any kind of contractual obligation one wants to voluntarily enter into), and also supports property rights for everyone, not just "lords" and "vassals" and so forth. [2]
Individuals own their bodies and have rights over them that other individuals, groups, and governments may not violate. Individuals have the freedom and responsibility to decide what they knowingly and voluntarily consume, and what risks they accept to their own health, finances, safety, or life.
As respect for property rights is fundamental to maintaining a free and prosperous society, it follows that the freedom to contract to obtain, retain, profit from, manage, or dispose of one’s property must also be upheld. Libertarians would free property owners from government restrictions on their rights to control and enjoy their property, as long as their choices do not harm or infringe on the rights of others. Eminent domain, civil asset forfeiture, governmental limits on profits, governmental production mandates, and governmental controls on prices of goods and services (including wages, rents, and interest) are abridgements of such fundamental rights. For voluntary dealings among private entities, parties should be free to choose with whom they trade and set whatever trade terms are mutually agreeable.
[1]: https://en.wikipedia.org/wiki/Serfdom
[2]: https://www.lp.org/platform/