Yes, it's that. You do probably end up wanting to store some "latest" denorm tables at some point, but it takes surprisingly long to reach that point, and isn't hard when you get there.

There are disadvantages to this, but it's a safe default. The alternative is possibly losing important data, finding out later you want historical records of things that are stored in kludgy separate tables, getting into more advanced locking situations, and having more complex DB migrations. Which I've had to pull teams out of many times.