No it can’t. It is measured by people paying you for your product at a price that is higher than the cost to deliver the good or service. Visiting your website a lot isn’t an indicator of anything. It’s a vanity metric.
And the better the market the more they convert (member conversion rate), and finally pay (customer conversion rate).
If you only measure conversions, you don't understand why they happened and what to improve to make them happen even more.