Not necessarily - in the early days of the WHR reconstruction the then "governance" seemed to be of the mind "We've got loads of money - how quickly can we spend it?". As a result there were some major issues that have been, mostly successfully, swept under the carpet and the then "governance" is no longer in place.....
I did the trip last easter (2006) and was impressed as was my(non railfan)brother, the views are much more impressive than the Ffestiniog which doesn't bode well for that line.
As I understand it they are not able to open any new stations within the Snowdonia National Park until the line is connected through south - i.e. Beddgelert will not be opening until the line is completed well to the south........
G