Not exactly. The earth was considerably larger approximately 5 billion years ago than it is now, when the collision occurred it blew a piece of the earth off and over time the earths rotation allowed for the reshaping of its spherical shape. As the fragments floated in space caught up in the earths gravity caused them to gradually come together and form the moon. The earth has never been completely destroyed, at least not that I have heard or read. In fact this is the first hypothesis I've heard regarding such an event.

Wait - somewhere around here I have my show-jumping video riding
my trusty Triceratops

Yeah. Whoever wrote that Wiki article, needs to stay away from the magic mushrooms.