Absolutely.

Steps 1 and 2 are increasingly frowned upon with WTO or trade agreement requiring acceptance of foreign finance into your markets, preventing the levels of subsidy most of the developed world went through, or trying to require honouring of foreign IP. Which seems to look increasingly like taking away the ladder the developed world used to "get there".

The honouring of IP is particularly comical (and to read about here seeing outrage at China borrowing some overseas IP), as from what I can remember everyone who managed to develop did so by stealing IP, subsidising etc whilst providing enough walls to ensure the fledgling industry couldn't simply be bought up by someone higher up the food chain.

Korea didn’t do step 1 and it did fine. Their post war land reform lead to farms so small that there were no tractors in the country until something ridiculous like 1970.

They had a big population boom, also they very much did a lot of reforms needed to increase economic output (eg. private property laws, market liberalization, free trade agreements, clear-ish laws, education, healthcare, dense urbanization, public transportation).