Most certainly not!
Let's see if I can get out a clear explanation:
a working space defines how a given real life colour is represented with the red/green/blue values we use in our photos. This is absolutely independent of any device.
Now, to display an image, we need to tell the monitor what value to use for the red, green and blue pixels. Ideally, using the working space rgb values should give the correct colours, assuming the monitor uses the same colour space ('language' if you want). In real life, using the working space values gives slightly incorrect colours (all monitors have an accent
).
To correct that, you can measure what colour you get for a defined r/g/b triplet, and from there you can calculate how to correct the working space r/g/b values so that the monitor displays the correct colour for each pixel in your image.
So the monitor profile is nothing more than a correction applied to the working space values to allow for imperfections in your monitor.