No, that isn't the case. The Node.js APIs bundled with Electron expose considerably more functionality to JavaScript than the HTML5 APIs that Chromium exposes. And the Electron framework exposes even more native OS APIs that Chromium and Node.js don't provide.
Look, you can call it "using a hammer for everything" pejoratively if you want, but it's popular for a reason, and that reason isn't the moral decay of society. It offers real utility that reasonable people find valuable for rational reasons.