No.
It means that the seller will ship by the cheapest available means. This can mean slow delivery, but remember that normal delivery from:
Europe is about 7 to 15 days.
From the USA or Canada about 10 to 20 days.
From Asia about 30 days.
If your item takes longer, you have up to 45 days to file a Dispute.
Do NOT allow a Chinese seller to offer a replacement. It won't arrive either. That's a fairly new scam, mostly from Asia.
You only accept your original payment back in full.