Absolutely.
However, since Mordenkainen is unarguably portrayed as some kind of buffoon whose arrogance frequently leads into incompetence in all the 5e books in which he appears personally (or near), I think that the spell fits.
Of note, his appearances/mentions have him:
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-Nearly turn himself into Demogorgon's brainwashed slave by experimenting on the Demon Prince's symbol witjout precautions.
-Lose to Strahd and get his mind scrambled.
-Get made fun of by Tasha, with the implication she is a better wizard or at least smarter than him not challenged.
-Go on about the Balance when it's implied his interventions are at best of little consequences and at worse only self-serving.
-Confidently declare that Halflings are not lucky.
That is not to say he is an idiot who's entirely incompetent (that would be deep flanderization), as he is still a forbidable mage, but 5e does portray him comically, with little to no attempt to give him dignity or show him respect-worthy.