Not at all. I think Apple has gone a little fit & thin crazy compared to say 10 years ago when only the overall design of a new product mattered - instead of making existing products thinner and lighter.
I think the first iPhone was substantial and perfect. It was a little metal tank. I just played with my girlfriend's first generation iPod touch, and it feels much nicer to use and hold compared to the current one. My first gen iPad has some weight, and it's a little thicker, and I really, really like that.