Well yeah. But I think a lot of the movie's problems came from taking that basic premise - particularly the ending, which is what makes the entire story hold together in the first place - and changing it to provide a more thriller/action-packed plot. The seed story itself is very solid.
On the other hand, I think Total Recall (the original) was a far better story than We Can Remember It For You Wholesale, which it was based on. So like everything, it's hit or miss.