When I have described it that way, I have been told by people who seem to know that it's more complicated than that. I haven't been convinced by any of the explanations I've heard, but I don't know what the breakdown is there between my ignorance and not getting it explained very well.

Still, I'm fairly sure there's at least a strong element of that being one of the primary uses for this. It is not intrinsically useful for moving classical bits around in the usual way, because we have that problem far better solved with conventional technology. (All this quantum stuff is slow compared to conventional communication, and only statistically reliable.)

Similar techniques are used to create short random bit streams for use as shared keys (mostly for researchers and entities afraid of RSA being factored). This technology is not currently practical for sharing entire one time pads.