Is getting black-out drunk dependent on your alcohol tolerance?

Back in the day, after a heavy night of drinking I would teleport to my bed, and wake up to a bunch of funny messages on my phone. Nowadays if I drink as if I was a dehydrated goldfish, all I get for it is 2h hours of vomiting on the toilet and a 30 minute walk home. So my question is: is the reason for me not getting black-out drunk due to me having become tolerant to alcohol?