Yes, but if you go into your Subclass Details, you will notice three stats; Armour, Recovery and Speed. These are independent of armour ratings and any effects they may have. That is where defence and offence advantages come into play.
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That is what I meant by the defence bar forgot the right name. Same amount of headshots will kill you as any other class even if you max out armour bar which you actually can't max out there is still a gap left when you set up for max armour. Even then other classes atleast the hunter can achieve the same amount of armor with greater agility and recovery. Titan class is very limited once you take everything into consideration. The other classes have a better balance between the 3 even when they specialice for any of the three options. I love my titan but even if I do good most of the time I can see it is being held back from grenades to melee to defence, the three major things that should be intended for this class. I don't know if you've notice but if you get max armour then you can't really strafe making your armour bar obsolete.