Yes, but the system is also designed to prevent the Mississippi River from changing course. One day, there will be a thousand-year flood and all the systems won't be sufficient to handle it.
I remember well the 1973 flood and the opening of the Morganza that year. I fished for a week in the Lower Atchafalaya Basin that summer. Lots of fish caught. The Basin is one of the best fishing holes in the Southern United States.