No it doesn't necessarily.
Royal families tend to have family nets rather than family trees.
Of course, so does everyone in this situation, but the mesh is pretty fine in European Royal families.
That would mean that more of the ancestors (say by the fourth generation from Charlemagne) are direct descendants of Charlemagne than the average European.
Indeed, and that’s taken to the extreme in the case of the Hapsburg family; covered in Rutherford’s book (and particularly amusing when you see him talking about it live).