You are partially correct (and maybe more so with this product). But there are types of engineered woods and beams made from glued and pressed stick lumber/boards. Imagine the concept of plywood but with several 2X6s to replace a true 6”x12” beam which would be 1) not as dimensionally stable as wood naturally warps and 2) needs to be milled from a much larger tree. Engineered woods that are not made with harsh chemicals like Formaldehyde are often ligher, stronger, and can be made from younger, new-growth timber stands. We have a nostalgia for pure lumber but engineered woods are really a better building material for certain situations.