Oh heck no. The Itanium was around in 1999 (before the 64-bit alliance really did anything, and I think before it even existed). As I have a family member that works at Intel I had the luxury of holding one before they were public. I had lots of questions as the CPU doesn't look like a typical CPU. ;)
The Itanium was supposed to be a whole new architecture that had nothing to do with x86. The "goal" was to get rid of much of the old x86 stuff from the 1970s and 1980s, and by removing those restrictions you'd get (in theory) a much faster and more efficient system as a result. Unfortunately it was outrageously expensive, had very little software support as there were so few systems. It was very much the "chicken and the egg" problem from the 1970s and 1980s. Back then there were a bunch of proprietary systems that existed, and whichever hardware platform existed in abundance would take over. But the hardware wouldn't be abundant without lots of software, but the software wouldn't be made without the hardware. So which comes first? ;)
There was a quote from some Intel C(x)O from a decade or so ago where they said something around the lines of them not building the x86 instruction set they way they did if they had known it would later be a world-wide standard.