Yes, and it's a critical failing to do anything less.
Now, obviously there are games that more specifically cater to a particular aspect than any other. So games like Battlefield will always put much greater effort and resources into developing it's multiplayer, than a deep, rich single player campaign, and games like big RPGs, Action/Adventure games and the like will have it vice versa. However, if you are in fact going to put forth another aspect to your game, that is taking extra development time, resource, man hours, etc, then I expect that aspect to be worthwhile. If not, then it is simply wasted resources and work that could have gone into expanding, fine-tuning, and polishing what is actually good about your game, and so clearly the key focus. At the very least, if nothing else, resources and money could be saved so as not to bloat the ever increasing gaming budgets with something that is clearly treated as a tacked on throwaway, just so you can tick an extra box that's then quickly ignored upon release due to substandard quality.
Do it right, or at least look like you're trying to do it right, or don't do it at all