I think the answer is "No" for several reasons.
New converts to any religion generally are far more serious than third, fourth or fifth generation members. This isn't just restricted to the Witnesses, but is just as true for any of the religions that sprang up in the 19th century. (e.g. LDS, SDA, etc.)
There was a time when the Witness religion was composed almost entirely of converts. As long as the movement experienced rapid growth, new converts continued to compose a sizeable percentage of overall membership. However Witness demography has gradually shifted. This is the unavoidable consequence of moderate growth coupled with more and more members bearing and raising children in the religion. Judging from what I have observed at Witness conventions in the U.S., it seems that with each passing year, a higher percentage of baptisms are performed on the children of existing members.
Children often do not share whatever mindset that moved their parents or their parent's parents to become True Believers and that's just a fact of life that affects all mass movements.
I think it's also hard to deny that the Witness faith has by degrees, been "dumbed down" over the years. For example, there was a time when "written reviews" were handed in and graded. There was a time when the study questions were asked before the paragraph was read. There was a time when there was no such thing as a "reading assignment."
Similarly, there was a time when study articles actually addressed doctrinal questions of "how" and "why" and not just "what, where & when." Consequently There was a time when the average Witness could explain how the date for their memorial of Christ's death was arrived at. There was a time when the average Witness could explain how they derived the 2520 year figure from the Bible. There was a time when the average Witness could reel off the significance of each of the metals of Daniel's dream image as easily as they could recite their own address.
People that cringe at the thought of having to explain the nuts and bolts of their faith cannot possibly be as confident in those beliefs as those who can. I think this is the case with many Witnesses today.
Lastly, I think there was a time when the Witness were far more confident in their perceptions of where they are in the stream of time. At the height of the cold war, their interpretation of the "King of the North & South" provided a reassuring explanation for a worrisome situation. Today that interpretation mostly lies in shambles. Similarly the generation that saw 1914 was aging at the time, but had not passed away by any stretch and the very idea that the organization might someday backpedal on this interpretation would have been scandalous. Today that tangible anchor point is gone.
I think all these things combine to produce a membership composed of far fewer True Believers. I don't mean to imply that this is a character flaw on the part of Witnesses, (Quite the opposite!) it's just what happens as times change and mass movements age.