100% no.
I've been on the bench for about a year, but I spent the last 15 years as a pretty intense recreational cyclist. I was in the tier that you might describe as "the craziest you get without having a racing license."
There were very few steel bikes on those rides -- say, less than 10-15%. Carbon is by far the most common material, followed by Ti for the more well-heeled folks. Most of the steel is "modern", but there are some vintage frames, too.
I rode a boutique steel frame from Ritte for a long time, but went to a lovely carbon Giant about 2 years ago after the steel frame failed, which astonished me and everyone I knew. It's honestly better in every way -- quicker, lighter, more comfortable, etc.
The vintage steel frames these groups are generally pretty high end holdovers. You leave some stuff behind by staying on a frame from the 80s or 90s, and some of those things really WILL make you slower vs. a modern hot-rod frame, but if you're strong enough you can make the trade. Weight's one, but so is gearing. Current normal for a road bike is 11 or 12 cogs in the rear, which means you have a VERY smooth progression as you accelerate. And older frame might not accommodate electronic shifting, either, which I'd be loathe to give up now.
In non-flat places it might matter that the older frames won't allow for disc brake systems, but where I lived (Houston) that didn't matter.