No, the gust value is the max gust expected.
The reason you see a 10kt gust factor a lot of the time, is due to the expected gust being 8 kts, so it is rounded up to the min reportable gust of 10.
Also, when using these gusts to predict crosswinds, remember that TAF/METAR winds are in True, whereas ATIS/ATC winds are Mag. My chief MetO used to say "The met man always tells the truth"