That matches my understanding too.
It still makes me suffer a lot though because optimizing for printing us clearly not the norm.
Also, I frequently cache articles by printing to PDFs not knowing a better way of capturing a static snapshot of a web page into a single file. I do not print these, but the resulting PDFs suffer from the same layout issues. Also, links do not get converted. (Several PDF software makers supply plugins for Microsoft Office, but almost none for web browsers.) I am happy to hear if someone has a better solution for this (other than using Internet archiving for such cashing).