No. Cat Canyon is not that tragic. On the same trip that I just talked about we had an FJ40 with open diffs and a crawl ratio of approx. 75:1 and although it took a little extra effort in a few places, he completed the trail without breakage or taking a strap. He did however take a few of the easier lines.
A lot of it is like any other trail, it comes down to a good driver is the most important, and good equipment is secondary. Good equipment is good but with a lousy driver, it may not amount to much. I've seen guys with VERY built rigs just flounder on Cat Canyon because the couldn't drive to save their lives.
Bottom line is that Cat Canyon and a lot of the other trails in the Delta area are a total blast! They are not easy, especially if you try some of the harder obstacles and for a newbie driver, or a mild rig, it may not be the best choice unless you plan for breakage, body damage, a long day and frustration. If you go in with that in mind, you can still have a good time I guess, but it's better to go prepared.