Not really. The primary goal of the policy is to cause the hareidim to switch from voting for Degel ha-Torah, Agudath Israel or Shas, and to become supporters of “normal” parties such as Likud or Bayit Yehudi. Israel has a pending demographic crisis since the secular Jews don’t like to have kids, and the frum ones do. For zionism to survive, they have to “break” the hareidi community. Otherwise by the late 21st century, Israel will be a Jewish state (imagine Aryeh Deri as Prime Minister, and you see what the hilonim have to fear).
The army doesn’t need thousands of unhappy jobniks. If soldiers to fight the Arabs were an issue, the last thing they would do is draft yeshiva students from non-zionist yeshivos. As it is, conscription will reduce the number of combat soldiers.
If they wanted hareidim to join the “workplace” (meaning the mainstream economy), they would repeal the laws the restrict employment opportunities for those who don’t serve in the army, and enact laws to outlaw religious discrimination.
It isn’t the economics of the hareidi community, or the defense of the country, that is at the heart of the issue. It is the existence of the hareidi community.