Yep.
But to clarify, as far as I can tell in the original cartoon show opening castle greyskull was introduced with lightning in one shot, and then in a separate shot He-Man "having the power" in front of the castle involved a flashy sparklery effect which while not completely unlike lightning (and drawn very lightning-like in a few frames) was definitely different than the lightning shown seconds earlier. Meanwhile the new movie (based on the results of a google image search for "he-man lightning") seems to have elided the two scenes into one, so that "having the power" involves he-man drawing lightning from the heavens, which is, I would hazard, cooler.
Here's the original.
It is almost like people forget they can look up clips...







