No.
Let me explain with an example:
Snapshot1 pushed segments 1, 2, 3 in repository X
Snapshot2 needs to backup segments 1, 2, 3, 4 (4 contains the new data). But repository X already has segments 1, 2, 3. So the _snapshot action will only copy for snapshot2 the segment 4.
When you delete the snapshot1, as snapshot2 also has links to segments 1, 2, 3 those files are not removed.
When you restore snapshot2, you restore all files linked: segments 1, 2, 3 and 4.
Make sense?