Not at all.
Space telescopes fulfil a very important role but they cannot be made as large as ground based telescopes due to weight and the cost of getting them into space.
The wider the diameter of a telescope the better light gathering ability it has and the more detail it can resolve.
At the moment the largest ground based telescope is the Gran Telescopio Canarias (GranTeCan or GTC). It is a 10.4 m (410 in) reflecting telescope located at the Roque de los Muchachos Observatory on the island of La Palma, in the Canaries, Spain. It is the world's largest single-aperture optical telescope.
Although atmospheric disturbance is not a problem encountered by space telescopes, many ground based telescopes do have a problem and atmospheric disturbance can distort the image.  However, adaptive optics used with large ground based telescopes can compensate for distortion caused by the atmosphere.