Well, NO. What you have done is washed a wool sweater on HOT, then dried it on HOT. The end result is a shrunken sweater with very tight knit wool.
I found this pink cardigan at a "fill the bag for $1" day at a local consignment sale. It was the buttons that attracted me. The sweater itself had seen better days and was pilling a bit.
Family Fun had the cutest woolen cuffs on the cover this month. I decided to use the sweater to make some sweet bracelets.