I would to a certain extent. I think the cautious approach is the basis of Southgate's success. It's not the kind of football I particularly enjoy watching but I think he's set us up right to go deep into tournaments. The only flaw has been that, especially in this year's Euros, he's more or less obliged to pick players that aren't best suited to the system.
It's a generalisation (there are obviously exceptions), but historically sides that have won the major competitions have either been total standout sides or have been built on very strong defences. Attractive attacking sides (Hungary 1953, Holland 1974, 1978, Brazil 1982 as examples) don't seem to win things. Southgate's approach probably needs some slight adjustment but it's given us more cracks at winning something than anyone else has.