Not even close. She said it was because when she played Monica, (and she's said this for years now too) that she felt she played as good as she could, and still only won 2 games...
It's not about who they think is the greatest or has beaten them the most, it's her opinion and you will stay pressed and deal.
Sharapova was a nobody when she lost to Seles in 2002, she wasn't even ranked. She lost 5 times to Serena, winning 4 games or less. The lowest she was ranked in those matches was No. 5. I guess some people will belive everything Her Royal Fakeness says.