That's correct, it is a very simple controller.
The hub can connect to an app, so that may or may not offer proportional controls; I have not tried yet.
I bought it so my 6yo and I can motorize our creations; and it is perfect for such so far. Turn on hub, turn on controller, play. No messing with bluetooth, which is too much trouble when you're 6, lol.
Our first creation with my decades old technic collection.
CAD, not €