No. If you didn't use the v (verbose) option you'd more clearly see this:
./var/empty/: Can't restore time: Operation not permitted
./sbin/init: Can't unlink already-existing object: Operation not permitted
./lib/libc.so.7: Can't unlink already-existing object: Operation not permitted
./lib/librt.so.1: Can't unlink already-existing object: Operation not permitted
./lib/libthr.so.3: Can't unlink already-existing object: Operation not permitted
./lib/libcrypt.so.5: Can't unlink already-existing object: Operation not permitted
./libexec/ld-elf.so.1: Can't unlink already-existing object: Operation not permitted
./libexec/ld-elf32.so.1: Can't unlink already-existing object: Operation not permitted
./usr/bin/su: Can't unlink already-existing object: Operation not permitted
./usr/bin/login: Can't unlink already-existing object: Operation not permitted
./usr/bin/chpass: Can't unlink already-existing object: Operation not permitted
./usr/bin/passwd: Can't unlink already-existing object: Operation not permitted
./usr/bin/crontab: Can't unlink already-existing object: Operation not permitted
tar: Error exit delayed from previous errors.
Meaning these files didn't get updated.
This can also bite you, if some files in /etc are updated.