No that's not correct, in fact this comment and the two sibling comments are both wrong.
Quouting from NPMs documentation[0] for npm install
> This command installs a package, and any packages that it depends on. If the package has a package-lock or shrinkwrap file, the installation of dependencies will be driven by that, with an npm-shrinkwrap.json taking precedence if both files exist. See package-lock.json and npm
Consider an example where in package.json you have `"react": "^16.11"` and this has been resolved and fixed in package-lock.json as 16.12 at a previous point in time. Running npm install will not cause NPM to install 16.14 even though it matches the pattern specified in package.json, instead 16.12 will be installed because that's what package-lock.json says.
What npm install does do, is detect if you've made changes in package.json and only then does it re-resolve the dependency. In the above example, if you changed `"react": "^16.11"` to `"react": "^16.14"` in package.json and then ran npm install the package-lock.json would be changed and version 16.14 would be installed.
Bundler and CocoaPods also work this way.