No.
The throat measurement is a depth measurement, not an internal diameter measurement.
So, while measuring the throat wear would be a measure to attempt to reduce case throat tears, the current gauging does not take that into account.
ETA: the gauge used is very similar to this one:
http://www.brownells.com/gunsmith-to...-prod8761.aspx
EXCEPT that it measures from the rear of the upper receiver instead of at the barrel extension/bore.
There are several way that the gauging done could be more accurate.