Yes and sort-of no.
To one extent or another, obviously, no two partners are going to have exactly the same sexual desires, drives, turn-ons, etc, so there's always going to have to be some sort of compromise. But relationships are like that anyway-- full of compromises. Just like anything else, two people can be so very different sexually that any compromise isn't going to satisfy one or both partners. In that case, they are obviously incompatible. It seems to me, though, that people compromise and choose to make things work in so many other areas that in most cases I would venture that there are relatively few cases of sexual imcompatibility on its own making a relationship not work. I also would venture to say that there are things that would be deal-breakers for a lot of people ahead of sexual incompatibility-- abuse is an obvious one, desire for kids, religion, money issues, etc.