Of course, but how do you pay for it?
2/3 of the Future Rotorcraft Capability Requirement funding has gone on 70 or so Future Lynx (roughly 40 Army, 30 Navy) to replace existing Lynxes and on the Merlin CSP.
You might say that when the main shortfall (so starkly outlined by the NAO) is battlefield lift, spending 2/3 of the available budget on attack, strike and ISTAR is a puzzling prioritisation, and I'd have to agree.
70 folding tailed Merlins replacing the SK4, Puma, and SK6(CR) would solve the lift (and amphibious lift) shortfalls at a stroke, but would cost £1.5 - £2 Bn.