No, it isn't. Libby turned out to be the fall guy in a sense that he was the only one that Fitz could get for anything. Libby's defense was simply not believable enough to the 11 jurors for what he was accused of doing.
Contrary to popular thinking here, it might very well be that Libby got caught playing games. He's a lawyer and he's represented a scumbag like Marc Rich so let's not pretend that there's no chance he didn't BS the investigators on this. I would have preferred a real trial and the truth about Wilson, his wife and her bosses at the CIA come out.
What would have been the point? As we know, there was nothing for him to BS the investigators about. There was nothing for him to gain in any of this, nor anything to hide.
I figure Fitzpawn was leaning on him hard to give him something to get at Rove or Cheney, and when he wouldn't this was inevitable. Not inevitable that Fitz would get away with it, but that he would prosecute him to the nth degree.