No, actually it sounds like money can buy an election. When you're outspent 8 to 1 in advertising dollars, it will be next to impossible to win an election, unless your opponent is the devil himself. Also, more than 2/3 of Walkers campaign money came from outside WI.
The money will be much more even in the general election in November.
Also, based on exit polling, if the POTUS election were held yesterday, Obama would have beaten Rmoney in WI.