No, because ignorance is the tenth fetter and they are removed progressively through the four stages of noble persons. The first five fetters are called ‘lower fetters’ because they tie to the sensuous world. The latter five are called ‘higher fetters’ because they tie to the fine-material and immaterial worlds. ‘Craving’ usually means craving for existence in one of the three worlds.
OP: “Herein, one eradicates craving by quiet, one eradicates ignorance by insight.” ‘Craving’ is wrongly used here, it should be sensual desire.
“When tranquillity is developed, what purpose does it serve? The mind is developed. And when the mind is developed, what purpose does it serve? Passion is abandoned.”—AN 2.30
It is necessary to experience the joy of absorption in order to counteract the pleasure of the flesh.
" “Even though a disciple of the noble ones has clearly seen as it actually is with right discernment that sensuality is of much stress, much despair, & greater drawbacks, still — if he has not attained a rapture & pleasure apart from sensuality, apart from unskillful mental qualities, or something more peaceful than that — he can be tempted by sensuality. But when he has clearly seen as it actually is with right discernment that sensuality is of much stress, much despair, & greater drawbacks, and he has attained a rapture & pleasure apart from sensuality, apart from unskillful mental qualities, or something more peaceful than that, he cannot be tempted by sensuality.”—MN 14
This passage shows how both investigation leading to insight and tranquillity are instrumental in overcoming sensual desire. Sensual desire and anger are emotional defilements opposed by right resolve, the three sila factors and right concentration. Ignorance is a mental factor overcome by the development of right view through investigation and insight. In fact the physical and mental factors of the noble eightfold path are interactive, and tranquillity of mind is necessary for the operation of insight.