Yes, but you'd have to be very creative to interpret that as saying that Marriott has an obligation to give you a Suite if they have one (and they also have a room on a high floor available).

The SPG terms on the other hand specify best available room (incl. standard suite) which is a lot more specific. Obviously properties there aren't banned from providing a Presidential Suite if they want to do so, but they do have to provide the best available up to standard suite.