I don't think so. The problem with any human-based analogy is that it implies human-based limitations that wouldn't apply to a truly infinite universe. For there to be infinite effects, there needs to be infinite time, so the idea of "having to wait forever" becomes meaningless.
Though we (and our perception) is limited to a specific (though moving) place in space and time, the universe as a whole would have no limitation. It would just be. All of the infinite effects would simply exist. Just as all places in the universe just exist together (regardless of whether we can perceive them or not), all the times in the universe just exist together too. There would be no initial cause because there would be no initial anything, there would just always be (and always will have been) the infinite chain of effects, because that's what effects do.
It is really difficult to get your head around these concepts of course, and none of this automatically means it is correct, but it certainly theoretically possible.
Edit: This may help of hinder, but it is worth remembering that every effect is also a cause (and in this context, vice-versa!)
Salam
Imagine you are existing eternally. You transcend time. You want to create a universe.
Can you create an infinite chain of cause and effects. I say it's impossible. You can't create the world without a start and end point. You can only created with limitations.
So if you make our time (humans we living now) an effect to reach to, can you create infinite sequence of effects leading to it?
In the analogy, imagine infinite amount of commanders existing and you need higher rank to give an order, when all of them are different ranks. The problem is that no highest exists, and so we know no command will start. You keep delegating it to one higher.
In time, same thing, you keep delegating it to preceding one, but none of them is the start.
Sure, if commanders were commanding, sure, all of them will command. This doesn't mean anything and that is all that
@Polymath257 amount to saying.
We are trying to see if it's possible infinite chain, not just assume it's going and going. Asserting if they were commanding in a chain and going and going, of course, misses the point of the wait condition. All of them have that condition. To make the analogy, all stages in time in the universe will have the condition they are preceded by a different stage. So if you keep delegating it to the one preceding, then it never starts. The point of the analogy was to look at time through command structure of generals. Infinite with no one on top is akin to no start. The condition of "higher", is simple "preceding".
The analogy is to you can mentally grasp the infinite chain in time, with something easier. But the analogy applies, and is sound argument in my view, to prove infinite regress is impossible.