Yes, it is. It's all context.
If the board is double paired and you have the lower pair matched for a boat, it's often okay.
You have to evaluate stack depth and your opponents.
Is their 4 to a str8 flush on the board?
Is the play you're seeing consistent with a hand that could beat you?
Are you playing omaha and you don't have an upper full boat?
Are you playing omaha or holdem and an upper full boat is likely?
Say you have 88 and the board is AAKT9. Is AK or AT likely?
It's mostly a question of judgement which comes from experience. And usually you just have to pay off the other guy...
It's a highly advanced play to lay down most boats. For less experienced players, I think it's generally a bad idea.