Pretty much. According to someone on Stack Exchange, "The most serious difficulties with Euclid from the modern point of view is that he did not realize that an axiom was needed for congruence of triangles, Euclids proof by superposition is not considered as a valid proof." But making mistakes in a formal treatment of a subject does not negate the fact that it is a formal treatment of the subject IMHO, and AFAICR none of the theorems in Elements is wrong; i.e., Elements is formal enough to have avoided a mistake even though the axioms listed weren't all the axiom that are actually needed to support the theorems.

18th Century European math was much more potent than ancient Greek math, and although parts of it like algebra and geometry were, for a long time, most of it was not understood at a formal or rigorous level for a long time even if we accept the level of rigor found in Elements.