No.
I know it's fun to drag Katy Perry's live performances. And, truth be told, most of them ARE horrible.
But her SNL performance of Walking On Air was actually pretty darn good, especially by her standards.
--She looked stunning. Katy was legitimately the hottest chick in Pop that night.
--The concept/choreography was cute and really well done considering that small stage.
--And her vocals held up surprisingly well considering all the movement she was doing. I was completely shocked when she was able to hit that E5 in the bridge (YEEeeEEEEAAAAHAHHHH!!!) and at near the same quality as the studio recording. The only time she really faltered vocally was in her transitions into falsetto, which is understandable considering all the movement.
That was a technically stronger performance than anything Gaga's done ALL era (INCLUDING the VMAs). Gaga's vocals just go to pieces these days when she tries to move, and she's usually a breathless mess by the end of her songs.