Not by those who adocate libertarianism. It is unbalanced by those who hate it and misrepresent it. It is also unbalanced by the wackos who simply assume the label because they equate liberty with license.
Just go to the basic premises of not defrauding another or not initiating force or coersion against another. At that point, laws are in effect to define unacceptable behavior in those realms, since far too many cannot restrain themselves, and to provide a mechanism for punishment.
Contrary to what is represented, libertariansim works only for those responsible, mature and self disciplined enough not to harm others and to respect that others may do things that we don't like.
Just beacuse I don't gamble money doesn't mean I feel compelled to stop you from doing it even though you may throw away your life savings, may jeopardize your home and family and entire way of life. If, as a concerned friend, I see you doing anything that is harming you, I have an obligation to warn you, but no obligation or power to take away by force the free will that God Himself gave to you.
That is the definition that I say is unbalanced.
Shalom.