Oh absolutely it would.
The Charter is just a lot of verbiage around two promises: NATO members will defend each other, and NATO won't wage aggressive war.
If you are so inclined you can also doubt Article 5 itself: are we really going to unleash the apocalypse over Latvia? Wouldn't we be tempted to bend the rules in that case as well?
The point is whether you believe those promises to be credible. IMHO history implies they largely are, but that's something reasonable people can disagree on.
