No - Snap missed earnings because Snap underestimated the effects of Apple's privacy changes - in other words they figured people would be happy to opt-in to reduced privacy.
I guess people don't like my answer but that's basically what the CEO said. He knew it was coming and didn't do enough.
“While we anticipated some degree of business disruption, the new Apple-provided measurement solution did not scale as we had expected, making it more difficult for our advertising partners to measure and manage their ad campaigns for iOS,” Spiegel said in his prepared remarks.
“While we anticipated some degree of business disruption, the new Apple-provided measurement solution did not scale as we had expected, making it more difficult for our advertising partners to measure and manage their ad campaigns for iOS,” Spiegel said in his prepared remarks.