Yes, that is exactly it. Nintendo Switch and Valve Stream deck (and even the old steam controllers) have this functionality. In the case of the Steamdeck, there are sensors in the joysticks to know if your finger is present to then allow mapping to enable/disable gyro aiming as well. Making it easier to reset the devices position in space without also aiming.

It’s more like a tilt - I use it in conjunction with the regular analog stick movement. Together, it adds an extra degree of control, and gyro is a much more sensitive and precise input than an analog stick.

It takes a little getting used to, and there’s a good number of settings parameters you can dial in to your preference (I generally like higher sensitivity and on all the time), but now I’m able to snipe across the map with a controller in fortnite nearly as well as I used to with a mouse and keyboard in battlefield 4. Playing it on an Xbox feels like using stone tools in comparison.