Not really, because the delegates still have to vote for the nominee. So, there might be a first-ballot that would have Cruz and Trump both come very close to the 1237, and then the gamesmanship would begin, with people trading favors in order to try to get their candidate over the top. But the party itself wouldn’t have control over the delegates.
But if neither has the delegates to win it on the first ballot, it all gets opened up for the GOPe to rewrite the rules and twist the arms.
You forget all of the ex officio delegates, too.