Nope. If you straighten it out and anchor the "static" turning block (the one originally at the far right) to the boat not the boom (e.g. tie it to a cable from the top of the mast) then you'd be nearly right. In fact, you'd only get 7:1 because the black rope is tied off to the boom not the deck. Fix that and you do finally get to a standard 2 x 4 cascade.

Straightening out the system doesn't change it, and either way you can't get away from the fact that the cascade is anchored in the moving boom, which means you have to move an extra unit of rope.

Paul