Kinda yeah, kinda no. Big-thinking drastic UI experiences are usually shit. But small, thoughtful touches made with care can still make a big difference between a website that just delivers the data you need and one that's pleasant to interact with.

There's a similar amateurs-do-too-much effect with typography and design. I studied typography for four semesters in college, as well as creative writing. The best lessons I learned were:

In writing, show, don't tell.

In typography, use the type to clarify the text - the typography itself should be transparent and only lead to greater immersion, never take the reader out of the text.

Good UI follows those same principles. Good UX is the UI you don't notice.