No, a communist revolution would have been much worse. People don't realize it these days, but a sizable percentage of the population was so desperate during the Great Depression that they would have been willing to chuck capitalism out the door. Roosevelt was able to defuse the situation and lower the misery to an acceptable level.
Or thats what he was able make people beleive.
The reality is that lower tariffs, more money supply and lower taxes would have helped more. Sure, the TVA and gov money to restart the agriculture/ money cycle would have helped, but the CCC programs were close to slavery.