Very much so, just that diamond are worth a bit more than likes on fb. About 5-8 likes means it's reasonably good, 20 would be very nice, 50 amazing, 80+ very popular, etc. You can get onto the popular projects by only getting about 10 but it is fairly rare and you would have to get them very quickly after posting it. Some very impressive projects get a few hundred, but none get much more than that.