I didn't think so. MGS3 is one of my favourite games ever but MGS4 is really high up there (probably in my top 3 for 7th gen games). The graphics were amazing and the gameplay was really fun and the weapon customization was a great feature.
The levels were also well done for the most part (except for you Chapter 3) and some great set pieces like the end of Chapter 4. I enjoyed the cutscenes and thought the story was presented fairly well, for the most part, it did become really convoluted by the end but never enough for me to put the game down. It's not a perfect game but I thought it was excellent.