Wrong.
From the Hebrew: ת Shêth, shayth; from H7896; put, i.e. substituted; Sheth, third son of Adam:—Seth, Sheth.
Seth translates “compensation”
Genesis 4:25 And Adam knew his wife again; and she bare a son, and called his name Seth: H8352 For God, said she, hath appointed me another seed instead of Abel, whom Cain slew.