That's one interpretation, sure. I hope you'll concede that another equally valid one is that we're hearing the deliberate shattering of the only institution in the country capable of standing up to the oligarchs.
So far the verifiable cuts made by DOGE are less than a tenth of a percent of the federal budget. However, a lot of has been cut so far has been very favourable to the ultra rich. The most obvious ones being cutting the IRS enforcement budget and gutting the CFPB.
It's possible to argue that all of that is good policy, but the facts make it very to claim that all of the destruction being wrought is going to make a meaningful dent in the government's spending.