Kinda? That is the logic that the cold war superpowers employed, but it isn't necessarily true. Having one nuclear-armed ICBM or cruise missile within range of a US city would be one hell of a deterrent.
China at least partly holds to this. Their logic is that nuclear security does not necessitate nuclear parity. So while the US and USSR made thousands of warheads and delivery systems, China maintained an arsenal of roughly 80-100 warheads with viable delivery systems.