Yes, but the risk of diversion vs the risk of delay should be treated differently IMHO.
In practice for many flights, the risk of going to the alternate is low and the alternate airport merely satisfies a regulatory requirement. Every flight we operate always has a risk of diversion, but we must temper our pilot paranoia over a diversion, against running the business. You cannot eliminate all diversions. Diversions are a cost of doing business, but we cannot pile on the fuel "just in case", believing we will avoid diversions. Diversions have associated costs, yes but the fuel carriage costs can be many times higher than all the diversion costs.