That's what Chamberlain thought and believed in 1938, and to my mind with good reason. War could have broken out in 1938. The verdict of history is that Britain was not ready for an aggressive war by Germany in 1938. Chamberlain gave a guarantee to Poland in 1939 which meant war, however weak Germany was at the time. That's not appeasement.
There is some background to this at this website, which I admit may not be the pure unadulterated historical truth, but which does not defy logic or common sense:
http://www.bbc.co.uk/bitesize/higher/history/roadwar/appease/revision/2/