simple answer: no
IF the chip goes down to bare metal then yes (because of rusting), but that goes for ANY paint, not just waterborne.
if the chip is only in the clear or base then no, you should still have a layer of primer to protect the metal for a little while.
Once dry, there is no difference between waterborne and solvent borne base coats. the only difference with waterborne base is they remove *some* yes..only some of the solvents, and replace them with H2O.
Due to that difference they do spray a bit different, so it is necessary that your painter has some practice with the new system before attempting your car!!!