Hi Josh,
not necessarily. It looks like, even though you’ve hidden the search terms, that they were run in “broad match”, which means that you’re going to get a lot more garbage in because your ad will appear for more non-relevant terms.
There should be another column there for Competition, which Google displays kind of like PageRank, a number from 0-10. There are some edge cases where there is a lot of search volume, and little competition (which “might” translate into low CPC’s), but it’s unusual.
I also must warn you of the accuracy of Google search volumes: http://www.pearanalytics.com/blog/2011/how-accurate-are-google-adwords-search-volumes/
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