Not if it is understood properly (Biblically). Here are some short comments from a discussion on the topic:
Visitor: Why should someone who has no more condemnation fear [falling away] on a regular basis? It makes no sense to me…
Such a fear is a healthy concern so that such a person will remain in Christ where alone there is no condemnation. It isn’t the type of fear that is suppose to be anxiety producing. Maybe that is the problem with how you are seeing things. For example, if I have no concern (or fear) at all over the possibility that I might at some point commit adultery on my wife, then I would probably not be careful not to look too long at attractive women, or thumb through magazines that I shouldn’t. If I had no concern (or fear) over the strength of my relationship with my wife, I wouldn’t make the effort to love her and do things for her that she appreciates. I wouldn’t invest in our relationship which would inevitably weaken it, possibly even to the point of breaking up. But such “fear” is not the same as a constant anxiety. Still, that fear is very important. I love her and know she loves me, but I also know I am weak and susceptible and need to be on guard (i.e., “don’t be arrogant”). It’s the same with God. We can know that God loves us and love Him too, but if we have no concern to keep that relationship strong and no understanding that despite our love, we are weak and susceptible in the flesh, we would not strive to overcome the flesh through His Spirit. But that doesn’t mean we need to live in anxiety or constantly worry that we will fall away. You may think that is how Arminians live, but that is not how I live and it has not been the experience of so many more like me who share my view.
You can read the entire exchange in the comments section of this post.