No
The waste gate is designed so that at the full throttle position you will get max permitted MP in a steady state condition
What Mike is talking about is that during the takeoff roll rapidly advancing the throttle will mean the waste gate can't close fast enough so you will get a momentary over boost before the engine will correct itself and the MP will steady up at the max MP. This is particularly noticeable if the oil is not fully warm as the waste gate is operated by engine oil pressure.