You're generally correct. But there are interesting exceptions!
Sometimes, ROM-image-based game titles were based on the same "engine" (i.e. the same core set of assembler source-files with fixed address-space target locations, and so fixed locations in a generated ROM image), but with a few engine modifications, and entirely different assets.
In a sense, this makes these different games effectively into mutual "full conversion ROMhacks" of one-another.
You'll usually find these different game titles compressed together into the same ROMset (with one game title — usually the one with the oldest official release — being considered the prototype for the others, and so naming the ROMset), because they do compress together very well — not near-totally, the way bugfix patches do, but adding only the total amount to the archive size that you'd expect for the additional new assets.
Well-known examples of this are Doki Doki Panic vs. Super Mario Bros 2; Panel de Pon vs. Tetris Attack; Gradius III vs. Parodius; and any game with editions, e.g. Pokemon or Megaman Battle Network.
But there are more "complete" examples as well, where you'd never even suspect the two titles are related, with the games perhaps existing in entirely-different genres. (I don't have a ROMset library on-hand to dig out examples, but if you dig through one, you'll find some amazing examples of engine reuse.)