No it doesn't. For multiple reasons.
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Not tanky early. Actually has some of the lower base stats in bulk and scaling, relying upon his kit and items to make up for his aggressively meh at best stats.
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His damage is tied to a shield that breaks in one hit from jungle monsters and an E that has 7 seconds to cool down early along with inconsistent damage (usually only hitting for around 90 damage during your first clear). Even as far as dueling potential goes, Naut has the lowest possible dueling potential in the game during those first few levels and relies an insane amount upon his teammates to follow up if he really has to go through a trade.
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Sejuani.
That last point may make you go "Oh, yeah, sure, just name a champ. Clearly they're comparable." And fucking yes, they were, are, and should be compared because hardly a year ago Sej and Naut were what you would call the CC juggernauts, the two champs you'd go for for mediocre damage but insane amounts of lockdown, and back then they could still at least both clear their jungles in a respectable amount of time. Sej has since been reworked to pack even more CC than before, do more damage, and straight up have more bulk than Naut with Nautilus not even scaling any better than Sejuani does now. Quite literally there is no reason to pick Nautilus over Sejuani at all because Sejuani does everything but single-target lockdown better, and Naut can't even do that well early because of how shit his MS is, so most of the times it's going to rely on the enemy mispositioning.
No. No it doesn't make sense for Naut's clear rates to suck this fucking much when his next comparable partner is seeing absolutely no problems as well as being an actually top rated pick for it.