No. Instructions are the number of times something has to be done whether it’s per-pixel or vertex. Per-pixel instructions are usually the bottleneck as far as instructions go as most of the shader work is done per pixel. You should be cautious with those as every pixel of the object using that material needs to go through the number of instructions to be rendered, even more so if you have a lot of sub-pixel geometry. Vertex instructions are typically much lower than pixel instructions, but compared to the per-pixel aspect, vertex instructions are computed for the entire mesh regardless of how much of it is on screen.
For clarification though, there really isn’t a “bad” number of instructions. Based on the above, you can kind of figure that a high per-pixel instruction count might not be so bad on something far away(it’d be wasteful, sure), but it all comes down to the type of game you’re making and the platform you’re supporting. Profiling helps a lot.