Νο. No, no, no.
My view is that *both* observations have to be made (the "greatest good" does not exist as an ideal form but does exist as a feeling which is our guide), and we have to be flexible enough to keep both in mind at the same time. Only then can we both understand where Plato and friends go wrong, while at the same time understand where Epicurus gets it right.
I think an analogue can be found in the discussion about Epicurean theology on Facebook (i.e. what is the proper descriptor for Epicurean theology? In which case, I proposed that "anti-creationist polytheism" might fit the bill).
Simply invoking the word "the God(s)" immediately invokes Idealistic notions. One responder to the Facebook post seemed to have been stuck on that point, that "the God(s)" necessarily indicates ideas like "Creation", "Fate", and "Magic". In fact, Epicurus used ϴEOΣ without implying anything related to the traditional burden of being a member of a cosmic government or in being a cosmic shepherd to sheep on the other side of the galaxy.
TAΓAϴON seems to have a similar application, in that the word popularly connotes a perfect, transcendental principle, but also literally refers to that objects that create pleasurable feelings, or pleasure itself.