Yes that's probably why the industrial revolution didn't happen. There's a good comment below that explains other societal reasons why the industrial revolution didn't happen, like the lack of contract law and investors.
I also read a great theory once (but I can't find it again through google!) that the industrial revolution really required the invention of the cannon first. Building an efficient steam engine in roman times would have been incredibly expensive and dangerous, because of their primitive metal technology. The cannon created a tech race between nations to develop more/better/cheaper/lighter cannons. Which resulted in better metal working tech. Once you can make big pieces of metal that can withstand and direct the pressure created from explosions, steam engines aren't too far away.
But Heron's invention was still useful, and would have been the fastest moving thing ever built up to that time. Perhaps it could have been adapted to military applications, like flinging tons of rocks really fast at high speed?