Maybe. I just find it hard to believe that there aren't more, given the number that we saw on DS9 and the likelihood that we didn't see the entire fleet at any one time...
I find a war-time fleet smaller than 10,000 ships hard to believe. When you take into account the fact that there are at least 45 ships that could have been in service at the time, and if there were at least 100 ships per design, that's at least 4500 ships right there.
Maybe 470 Excelsior
class ships is more fair?