Yes. Whenever I hear that a company (or a person) is "valued at" something, I know that number that follows is not likely to bear any relationship with reality.
Even if, non-liquid worth is like voltage on a battery - it drops fast once load is applied. Except for batteries we're usually talking about maybe 30% drop. In finance, once you try to convert your large "worth" to cash, it's going to be more like 90% drop, simply from the market responding to what you're doing - that's on top of any bullshit involved in calculating the "worth" in the first place.