For those of you who like a quick answer—not necessarily. The reasons that ETS provides TOEIC Speaking tests by computer as well as the cost-intensive methods that they've chosen for scoring the test go beyond a business decision and are both fascinating and commonly misunderstood.
For a long time, there was no TOEIC Speaking test. While other agencies offered speaking tests via interviewer, ETS was concerned not only about the time- and labor-intensive nature of such testing for large groups, but also about interviewer subjectivity. No matter how well-trained interviewers are (and for many tests the training is minimal), they can still be influenced by unconscious biases related to test taker accent, appearance, or other factors unrelated to actual speaking skills. Or they may simply have a bad day (or good day) when they veer off course and become unusually harsh (or lenient) with the interviewees they encounter.