Quite. GW "borrowed" so much stuff from Moorcock that they also straight up used the same 8 pointed star that Moorcock originally envisioned as a symbol Chaos. In his version of the Chaos star the 8 arrows sprouting in different directions suggests that there are no wrong options and all paths in life is just as valid. Meanwhile he envisioned the symbol of Law to be a single arrow pointing upwards in one direction, suggesting that the truth path in life is staying true to structure and order.
Moorcock would have the gods of Chaos and Law being at constant conflict with eachother. Should one side ever gain supremacy over the other the cosmic order would be out of balance and mortals would suffer under extreme forces. Law might not seem as bad as Chaos, but too much Law will ultimately lead to a sterility where nothing flourishes.
Games Workshop decided to tone down the gods of Law, but with Age of Sigmar they seem to be making a sort of return as dominant forces at conflict with Chaos.