Probably so - and by doing so, he lost the entire war before the first eastern front shot was fired. And I think it's pretty clear some in the German High Command knew it too. In his demonic arrogance, Hitler had no respect for the Russian army. He should have known that they could churn out zillions of those crude ugly lo tech T-34's and over whelm him with pure numbers.
Except the Nazis were completely overwhelming the Soviet Army as they had achieved complete surprise. With the population of Ukraine, in particular, getting behind the Nazis as a liberating force rather than an invading one (until the Nazis started doing their whole Nazi thing), they could’ve had a chance.
Not sure what the logistics situation would’ve looked like if Nazis hadn’t relied on Soviet rail or had been free of the Ukrainian sabotage in the rear. There’s also the question of what the war would have looked like if Hitler had ceded Stalingrad and focused on more important strategic matters.