Oh, good lord, no! The pizza-cutter-like tube cutter is so easy and quick, you'll thank the tool gods that it exists. Trust me. Just cut small sections off at a time until you get the desired results.Had planned to use a hack saw, since that is what we have on hand.
Was it noted that this only works if the straight tube extending down from the basket section is bottoming out in the bottom of the tripod part? Be weary of that. If the underside of the basket is hitting the wingnut... thing, at the top of the tripod's center tube, then there's nothing that cutting will fix.