No. They were upset that Morsi didn’t go to war with Israel fast enough for their liking.
Sorry, I know a lot of Egyptians in and out of the Military, there in Egypt, both Coptic Christian and Muslim as well, and what you are saying is simply not true.
They did not revolt against Morsi because he was too “moderate,” they revolted against him because he was leading them to absolute fundamental Islam and war with Israel.
Perhaps those things are what you think, but it is certainly not what I am told by those I know on the ground there, and US military personnel who have trained their military.
And when choosing between those I have personally known for years, and these things you are saying...well, it is easy for me to choose which I believe.
Egyptian Message to Obama and America
http://www.youtube.com/watch?v=6tH-yV7eTBA