Pretty much, yeah. Because the number of people who play modern D&D like the wargames of the 70s, where the object was to have the PCs get into nothing but fights over and over and over that possibly could kill them each and every time, had grown smaller and smaller and smaller over the decades. In our modern RPG landscape... with players having also played Shadowrun, World of Darkness, Traveler, Legend of the 5 Rings etc... more players play for the story their PCs create, rather than only being focused on the board game. So "game balance" for a crapton of tables was never an actual concern.
It didn't matter what the DMG said about number of encounters for "balance" because many tables just didn't care. We weren't hear to "be challenged in combat" each and every fight... we were here for the narratives and stories and adventures our characters got into. And the designers were just the same way.