Yes it was, but reading up on it, it seems the whole architecture was flawed, and that continued into later designs for compatibility purposes. It was to do with the size of the internal bus and memory addressing - the 640K protected memory space. IBM in 1980 wanted to adopt a different architecture and wanted to use the Motorola 68000 series CPU - but it wasn't available, so the had to make do with the Intel 8086 (actually the 8088 which was a cheaper cut down version).
The 68000 series became the mainstay of Apple's operating system for 25 years or more until they went down the Intel route.
The 68000 was arguably a better design - but better designs don't always get the recognition they deserve
More info here
http://world.std.com/~swmcd/steven/rants/pc.html
and here
https://en.wikipedia.org/wiki/Intel_8086