Not really. Luther and others set out to REFORM, not restore. Also, all of them accepted the place of Catholicism in the history of Christianity and while several (particularly Zwingli) sought a return to the Early Church, NONE of them believe that Christ set up a specific denomination that needed a full ‘restoration’.
Restoration groups have several things in common, all of which are outside protestantism. I can give you more detail if you like (its a current research topic of mine).
A true straw man argument.
Each of these groups (Protestants, Mormons, JWs, etc.) that claims the others have "fallen away" from Christ's original teachings believes that theirs is the only true way. They do not believe their's is the only true denomination, they believe that Christ set up one true Church, and their's is it.