No, that is exactly how you inform a superior officer that you believe the mission is a waste of time, effort, equipment, and manpower, and will probably get everyone killed for next-to-no benefit.
I interpreted it to mean that he was still Captain and part of his job was to keep up morale and model positive attitude. Even hypothetically, he was not going to gripe to his troops, and as far as they are concerned, he believes it is a worthy mission. He was jokingly modeling the proper, positive attitude. All this was understood by his men.