Yes but it does not rule out the two stories overlapping.
If the movie was to smash cut to the command center on Yavin. Bail Organa Distraught and in Tears at the loss of his daughter. The sense that they very nearly succeeded but the plans were lost aboard the Tantive IV.
At this point from the Rebel command center’s point of view the whole thing although it was a victory was in vein. And we never got the full weight of what happened.
When you watch Star Wars / A New Hope (I guess the episode name would sum it up all hope should be lost in Rogue One) you don’t get the full weight of the opening without knowing what rests on the mission succeeding which it obviously does not. But we don’t get any reaction related to the characters we are going to meet in Rogue one of how bad the news of Tantive IV being destroyed was. Leia is dead for all they know and the mission was ultimately a failure.
You could show Leia as a blip on a Radar Screen and it would still have a huge amount of emotional weight behind it.