Yes, but with his other eye, he can also basically get rid of any physical attack Madara tried. And if it came to taijutsu, Obito would just have to touch him to warp him.You guys seem to be forgetting the limit to Kamui's intangibility is 5 minutes, as Konan showed. Obito had to use Izanagi when fighting her because her attacks exceeded the 5 minute intangibility.
Also Obito's body becomes solid when he tries to warp. Madara already knows this.