No it doesn't. Using compositional rules as rules rather than guidelines will help you achieve boring pictures more often than not. Although all of our instructors will teach the rule of thirds on a Photo Safari, it does not mean that mindlessly putting something in the thirds corner will render an acceptable composition. You still have to consider a few things such as the visual balance of the image. Are your eyes pulled too heavily to one side or another of the image? Does the composition communicate the intended idea?
Another problem with this rule is that it would mean that the center does not work, or perhaps the author is saying that it will work 1% of the time. Nonetheless 1% is a pretty low number. The fact is that the center can work and for some it can be made to work 100% of the time.
Although the rule of thirds is a solid start, the photographer still needs to consider the entire frame and should have more than one tool in their toolbox.