I say yes. The cutscenes might show a different blend of action or stunts from the "boilerplate" moves the characters can do, but the cutscenes should not showcase power levels greater than that of the actual gameplay.
The worst offender of this by far was the Twin Snakes gamecube remake of MGS. All of Snake's moves are identical to that of MGS2, but in the cutscenes he becomse a superpowered ninja. Dodging explosion-propelled debris in slow-motion, doing a backflip off a mid-air missile while firing a rocket launcher... it was just ridiculous, and it made me mad I could do none of these things in the actual damn game.
RPGs usually go the other route; instead of "Cutscene power to the Max" you usually get Cutscene Incompetence. The bad guy kills people in one hit, the party loses their ability to heal/fight back/cast spells/absorb bullets/etc. That always bothers me. Anyone who says that this is required for an "effective narrative" or whatever is a moron. It's lazy game design, pure and simple.