It would (and does), yes; but this takes a lot more output tokens than asking for a summary would. The summary approach is only helpful insofar as it can be cheaper than using the thinking model. (You're basically tricking the instant model into thinking, which it can do, after a fashion.)

But, unless your desired output is literally a document for others to read, at the point where you're having a model generate a full, lengthy output multiple times over with revisions, you may as well just turn off auto mode and have it always deliberate (i.e. choose the thinking model explicitly from the model selector.) Then it'll be as messy as it needs to be while deliberating, but give you exactly what you want as output.

(And if your desired output is literally a document for others to read, that you want to interactively draft and polish, then (in the case of ChatGPT specifically) you should not only be explicitly forcing the "thinking" model, but also should be asking it to activate the "canvas" feature from the start. My understanding is that revising a canvas document involves the model emitting something like editing gestures, rather than simply re-streaming the updated chunks of text. This saves a lot of output tokens on large documents.)