Hell no! Game developers are starting to think it's ok to not give as much content. Rainbow Six Siege for example. I love that game, it's fun, tactical, and forces you to play smart. But even though I love the game, it blows that they didn't add a single player campaign. Titan Fall is another example. Campaign but it has to be online? That fucking sucks.
Depends on if the game is primarily online or not
Champions of Norrath on the PS2 for example, is primarily a local game but can be played online. But most of the fun is local so most of the effort should be put there.
Since when does online multiplayer have a story anyways? An infinite quest generator isn't a "story" as much as "busy work and prestige". Hell, even a world like Sword Art Online's Aincrad isn't as much a "story" as much as "trying to live a life and to hell with everything else".
NV was great
Champions of Norrath on the PS2 for example, is primarily a local game but can be played online. But most of the fun is local so most of the effort should be put there.