No. But those labels are a bit misleading.
“Fast” means that the we’ll use the -O0 flag when calling gcc, which means “don’t do any optimization at all”.
“Faster” means we’ll use the -O2 flag which means, “do lots of optimizations”.
“Fastests” means use -O3, which means more optimizations. (Although it should probably be -Ofast instead, which turns on all the optimizations.)
“Smallest code” uses the -Os flag, which is similar to -O2, but the goal of the optimizations is to make the code smaller instead of making the code faster.
So maybe the labels should be like “… for size”, “no”, “yes” and “more”
gcc have a million flags we could play with to get other levels of optimizations as well.