Well, not really. What was he supposed to do? Appear in France and save them from the burning house? Would there be two Picards then? Or would the Picard on the Enterprise vanish, and then not be around when they get the order to investigate the attack on the space observatory?
Yes of course save them.
The other Picard would have been on ship not in France. No worries.
Some people have debated the ethics of Picard saving his own family. I have no problems with it. If I were Picard I would even beg Q to save them.
But dealing with Q always come with a hefty price to pay.
Why not save his family before he deals with Soran. In fact why not just arrest Soran. Sorry, sorry I'm going to start my GEN rant again.