Likely. And there is another time trial coming up.
I really like Tom as a rider, but I think he has the same problem that Geraint does - fading in the final week.
I still think Nairo wins this Giro, but it got much harder with the time he lost today. Here is my logic...
1) Tom tends to fade in week 3.
2) Sunweb, without Kelderman, will leave him isolated in the high mountains.
3) Pinot, Nibali, and Quintana will essentially work together to push Tom down the hill as much as they can as early as they can.
4) The gaps on the final TT will not be as great as today. Dumoulin won't be front loaded with a rest day and will have full three weeks of racing in his legs. See point 1.
5) Movistar clearly brought the strongest team.
6) People are reading too much into Blockhaus. It was a single climb after a long day, but was essentially a TT effort for Dumoulin, and he rode it as such. When you have multiple climbs in a day is when he will be under difficulty.
Quintana needs to take back 3.5-5 minutes in the mountain, but I think that is possible. He also needs a minimum of 20-30 seconds on Pinot, which is harder.
I think the podium is either Pinot or Quintana on the top step, with Nibali or Dumoulin third. Nibali may crack, but he is like Coppi, all about the age and treachery, and the third week should be full of it.
What today probably signaled is that the double might be out of the question. If the Movistar team can inflict the pain on Nairo's behalf, he might not go into the red as much in the third week, but to make back the time he needs, he will either need to give up on the Tour, or give up on the Giro.