Ideally, yes, practically, no. In reality you also have to consider what comes downstream of a traffic light. It doesn't help at all if one traffic light has perfect throughput only to put everything into gridlock in the next node.
That means in most real traffic systems each intersection lane will have to have less then ideal throughput because you don't want to overwhelm the next section, as this could be even worse for the system overall.
If you have some engineering background you can also think about this as impedance matching. If you have a 4 lane road narrowing to 2 lanes you have a sudden impedance increase, leading to flow issues. If you put an intersection inbetween you now have a way to manage that impedance mismatch with signaling times, but you have to both look at the impedance before and after the intersection.