No, that's not why the electoral college exists. It's not at all why the electoral college exists. Here's how you know that: when the EC was created, no state used any EC-type structure in their own politics. None went to an EC structure after ratification. There was every bit as much danger of the uninformed masses electing dangerous people in state government, and state government was a much bigger % of government at the time.
The EC was just a negotiation between states who were scared of each other, over several issues including but not limited to slavery. And the motivating factor was distrust between states, which is why they all wanted a seat at the table. There were 13 states back then. If we could go back in time and show the Framers our presidential elections today, where a couple of states decide election after election, and those states' votes are determined largely by uninformed or low info voters, they would not have designed the EC the way they did. And no jokes please about the time travel paradox because that's just boring.