No. Not even close.
While scale wise it obviously wasn't, in the mid to late 90's it was the place that most people had their first websites and communities grow. People act like 'the wall' on FB is something new. Hello? Guestbooks.
Many of the sites were made in something like Frontpage even. There were templates and site makers, but also most people kept the stuff super simple.
And just because it was more complex doesn't mean it wasn't important. It was the easiest thing to come along. Before that you had to set up a web server, buy a domain, etc...