There is certainly large element of truth there.
There was also the old "They have got one of these widgets, we need a bigger, faster widget to counter it or we will be left behind" theory.
British often (not always) just said "fine, you have your large widget, we will just use 2 junior widgets instead of one large one"
And when the British started with a super destroyer they built the 8 gun Tribals of 1880tons instead of 2600 ton destroyers
But they had to go down to a single quad torpedo launcher to do it, While the AA was better than the French and Germans that was damning with faint praise and they had to give up a main gun twin mount to get any improvement in AA.