Nope, the tongue weight is important, but you start setting the trailer up for a boat by support. On an outboard or I/O, you HAVE to support the transom of the boat, some how, some way, or risk distorting the bottom over a period of time. Once that's been done, THEN your focus goes to tongue weight. You can make small adjustments with the winch stand/bow stop, but moving the axle is often required. Not that big a deal, they're usually set up to make that pretty easy.
To answer the OP, that trailer might be set for that boat perfectly, or it may need to be set up properly. You can't tell from that picture. It does look like it COULD be set up properly pretty easily if it isn't already.