Sort off... but it depends what you mean by that.
Most high density FPGAs (from Xilinx, Altera and pretty much all other manufacturers who are still with us), implement logic functions in lookup-tables (LUTs) which hold "equivalent" logic. So instead of building real gates, these chips hold little memory blocks which act like several gates together.
For instance, if you have a look-up table with four inputs and one output, you can implement ANY logic function with four inputs. There are 2^(2^n) different circuits with n inputs and one output. So for n=4 you get 16=2^4 independently possible output results and 2^16 different circuits. Some of these circuits are trivial (like the ones where the output is always 0 or 1, no matter what the inputs do), others require one, two, three, four or up to six gates (depending on what you count as a single gate... usually people count inverters, or, nor, nand and nor with two inputs as one gate). If you design all 65536 smallest possible circuits which implement the logic functions with four inputs and you average that out, you end up with a number of close to 4 gates per 4 input LUT. If you look at a typical mix of logic in a microprocessor or similar, you end up with a lot of logic blocks which also fit the four input circuit very well. That's why both Altera and Xilinx stay close to those 4 input LUTs in their designs. People who have tried with 2-, 3- and more than 4,- to 5-input LUTs have all gone out of business. 2- and 3- input LUTs need to many layers to implement typical functions like counters and are too slow. Wider LUTs are under-utilized and the chip is too expensive.
Modern FPGAs also implement functions with wide inputs like multiplexers and multipliers and functions with long gate delays like adders in special logic that is independent of their look-up table memories. This is done to speed things up and save LUTs for commonly needed circuit blocks.
And many have powerful microprocessors and large program/data memories implemented on the same chip. If you look at the die photographs you will see that the FPGA matrix is huge and the special function blocks are typically small.
Even so, most (90%) of the transistor functions on these chips is not logic at all but interconnect, i.e. switches, clock buffers etc.. The CEO of Altera once said something like
"We are a company which builds electronic switches with a little bit of logic on the side.".
He is right.
So you really have a mix of functionality now which allows the designer to make circuits in varieties of ways which BEHAVE as if they were made from the basic gates without actually being implemented that way.