No it isn't. I bought Warband in October 2010 and Steam stopped tracking cRPG at the end of November 2011. In that time I logged about 1500 hours, so that is about 3,5 hour a day average. I only downloaded cRPG in December 2010, so its probably not that far from a 5 hour a day average for me too. This was when I was 16-17 though, slagging my way through high school with a complete lack of ambition to do anything.
Also, when searching for when the first launcher patch came out, I found this beautiful thread:
http://forum.melee.org/general-off-topic/death-of-c-rpg(maybe-a-slow-death)/Nearly 4,5 years later we're still trucking, sort of.