Yup, I agree with that characterization. I also think that this is why a lot of people feel like PMs do nothing. Ironically it most frequently appears that PM isn't doing much when things are going really well (effortless execution) or really badly ("wtf are all of these meetings?").

I like the blog a lot, my biz partner and I have been writing on similar topics (link in profile if you're interested). Look forward to reading more of your stuff!