No, absolutely not.
That's why modern databases use a thing called multi version concurrency control. You can run (multiple) queries on the same table that is updated by multiple transactions at the same time without one blocking the others (assuming the write transactions don't block each other). Of course they are fighting for I/O, but there is no need so serialize anything.
Mixing OLTP and OLAP becomes increasingly "normal" theses days as the capabilities of the database products and the hardware improve. With modern high-end hardware (hundreds of CPUs, a lot of SSDs, large RAM) this actually scales quite nicely .