Alas, I don't think so. It also doesn't really work if you let your number of Unread messages grow without bound, since it's only looking at how many messages you've read but left sitting in your inbox.
I personally don't like the priority inbox concept. I really want to have full control over what I allow to go out of sight out of mind. If I got a truly overwhelming amount of email then I guess I'd be happy to trust that to Google.
In a sense I do have an overwhelming amount of email but not so much that I can't at least look at everything that comes in and decide for myself what can be ignored.