No. It was an example of speech that could have terrible consequences, just like anti-war speech.

edit: You're overestimating the wisdom of crowds and the care of theater owners. Spraying mace in a crowded club led to https://en.wikipedia.org/wiki/2003_E2_nightclub_stampede

Fear that the Who would start playing early caused https://en.wikipedia.org/wiki/The_Who_concert_disaster

We should probably add 'doing a sound check' to 'shouting fire in a crowded theater.'