Of course not. I've not played or seen someone play it for ages, but 4-5-1v is a fortress. It can beat ND if you play CA.
Against narrow formations, it's the fullbacks that do the most damage. Taking 4-5-1v vs ND, the 2ST, AMC and 2MC are marked by the 2DC, DMC and 2MC respectively. Your wingers and ST are marked, yes, but he has the DMC and a DC free. In this case, the fullbacks can go to attack and cross into the box freely.
Just watch some football on TV, then you can figure out the tactics for yourself.