This is spot-on correct. In the lab I worked in, we are working on a gene cluster of 11 genes, that result in the assembly of an enzyme that creates hydrogen. The PI's project was to play around with "promoters" that tell the bacterium to produce the genes. Think of this as 'script kiddie' work. I came in and immediately told him that this was the wrong approach; we had to alter the structure and chemistry of the enzymes themselves (think of this as 'assembler-level hacking'). Thankfully he was sympathetic to my argument and let me play around; I achieved a 3x improvement in enzyme activity. This summer,we tested the original idea, and all of the variants we tested were worse than what we started out.
Also, and this is my highly opinionated position informed by my experience as the sole chemist in a synthetic biology lab, but part of the problem is that a lot of biologists tracked themselves into biology because they didn't do so hot at chemistry. Many synthetic biology problems are chemistry problems, and even problems that are not on first blush like those that Drew Endy are trying to solve really become easy to grok if you're used to thinking qualitatively in terms of statistical thermodynamics and can mentally estimate collisions per nanosecond, from concentrations and kinetic parameters. These are quintessentially chemistry skills.
reference: https://www.ncbi.nlm.nih.gov/pubmed/23819621