That's correct. It also highlighted the fact that Wilt's scoring average was over 13 less when facing Russell in 1962 (37 ppg vs. Russell; 51 ppg vs rest of the NBA). I get irritated when people say that Wilt dominated Russell, when in reality Russell's overall play, in particular his defense, contributed more to his team's winning.
All you need to know is that in 1962, Russell won the MVP, not Wilt. In his own time, Wilt's accomplishments were not seen as impressive as they would become later as they emerged as more of a historical outlier.
In his book, Bill Simmons makes an interesting argument that Kareem's best season (his 1971-72 season) where he averages 35-16, is more impressive than Wilt in 1962. Basically the gap shrinks if you quantify their per 100 possession numbers, since Wilt played in a much faster-paced NBA than Kareem would, and you assess the quality of Centers they played against.
A big reason for Wilt/Russell's dominance was because the Mikan-esque type of Center was what the league had when they first came into the league. Slow, skinny, earth-bound players that relied on wacky hook shots. Look at the Centers in the league in 1962; Red Kerr, Jim Krebs, Phil Jordan, etc. There was no athleticism at all at the position, which gave a player who was bigger, faster, stronger like Wilt a massive advantage. That allowed a guard like Oscar Robertson to average 12.5 rpg that season; so many of the frontcourt players were dinosaurs playing a fading style of basketball.
If you look at the 71-72 season, the Centers that have emerged are totally different. They are not necessarily bigger than their predecessors a decade prior, but they are faster, stronger, agile and more athletic than the previous generation. Wes Unseld, Elvin Hayes, Bob Lanier, Willis Reed, Dave Cowens, Nate Thurmond; it's just a totally different environment for a player like Kareem to be dominating that kind of game than Wilt did in 1962.
You can look at how Wilt's stats decline over his career as the old Centers get phased out and the new centers enter the league; during the second half of his career he goes from being an immortal statistical monster, to merely a typical All-NBA performer. Historically his dip in scoring gets remembered as Wilt becoming a more unselfish player and not being so focused on scoring, and that is certainly true to an extent, but the fact that it wasn't so easy for him to completely dominate his opponents also plays a factor.