You could improve it by saying "multilayer
ed" (which is more frequent than "multilayer" when following "is").
Oddly, "multilayer" is more frequent when it precedes the noun (e.g. "a multilayer covering")—
though I think this is more likely to have a literal meaning, rather than the figurative meaning of your sentence.
I agree with Chez that the hyphenated form is easier to read, but the
Google Books Ngram Viewer indicates that the no-hyphen form is more often used.