Most definitely! Here is the rest of the exchange between Picard and the Starfleet CNC that I quoted above:
Admiral: But the great Captain Picard didn’t like his orders.
Picard: I was standing up for the Federation, for what it represents, for what it should still represent!
Admiral: How dare you lecture me?
Picard: Ignore me again at your cost.
Admiral: My cost?
Picard: You are in peril, Admiral.
Admiral: There’s no peril here. Only the pitiable delusions of a once-great man desperate to matter. This is no longer your house, Jean-Luc. So do what you’re good at. Go home.
To which Picard leaves and says fuck it, I’ll form my own crew and get the job done.