I think so. They never really connect on a deep or significant level after that.
It's kind of strange, really. Because in the early seasons the Buffy/Giles dynamic is one of my favorite parts of the show. But from most of S6 onward into pretty much all of S8, they just don't seem to...get each other anymore. Giles certainly fails to anticipate how Buffy will react to the majority of his decisions. And let's be honest, Giles fan or no, he wrenches just about everything in the final two seasons of the series.
It's a shame, really.