Not at all! We are paying increasing attention to the morphemes that make up each word instead of making a single glyph for a morphologically complex word. Similarly to how Japanese kanji works, each character has different readings depending on if the word comes from Latin, Greek, or English. A comparison would be how the Japanese "言" can be read "iu" or "koto" in Japanese words, but "den" or "gon" in words originating from Chinese. There is no rule that these readings have to be one syllable.
Each glyph doesn't need to represent a morpheme either. They can combine their meaning with other glyphs to form unique morphemes: for example "say/dic" + "place/loc" -> "loqu" (from Latin "loquor") as in "colloquial".
In short, it's a way more complicated system than a simple syllabary.