No, they are NOT. lol
NATO is the opposite. NATO is the bandwagon to hop on, so that you as a relatively small/weak country DON'T have to pay your fair share of defense spending that you will need to pay alone, and get the benefit of being able to scare off much much larger and more powerful potential adversaries.
Therefore, the biggest problem of NATO is precisely that it's own purpose and "selling-point" are the things that will burden it and making it impossible to sustain. Because defense budget NOT SPENT will be spent on other important things like welfare, development, education, trade, etc. Nations in NATO actually got their overall comparative margin of competitiveness (in human development, research, standard of living, etc) over other NON-allied countries precisely because they can afford to pay much less on defense individually, and be able to use these money to further their advantage in other fields. Now that they have to pay more for defense, they will have to spend these money much much more wisely in order to offset the decrease of funding for many other fields/uses.
If NATO got tricked by Russia into spending more on defense specifically against a potential aggression that is not going to happen, that will be as stupid as the French spending billions building the Maginot Line. Then, Russia would have benefited.
So far, none of the countries who are supposedly going to increase their defense budget are actually spending that money wisely. Of course, there are no way they can spend those money meaningfully. Building a few hundred/thousand tanks and IFVs is a waste of money for NATO countries in EU, because it does NOT give them any new strategic capabilities that has the ability to strategically threaten Russia in a new way. These can ONLY make a hypothetical Russian Invasion of European members of NATO more costly and more difficult. If Russia does NOT plan on invading but have other plans to make strategic gains, the money spent on these would have no other way of countering those, nor have these any ability to threaten Russia.
If European members of NATO want to increase spending to offset "Russian Aggression" and spend those money wisely, they will need to form a "European Center" and allocate all its European member's increased spending together in one pool. And using these together on projects that will gain new strategic capabilities. For example: hypersonic missiles, stealth bombers, heavy 5-gen/6-gen multirole fighters, SSNs, heavy strategic airlifts, etc. We all know this is impossible.