Apple TV hardware vs. Apple TV App

Do I understand this correctly:

The Apple TV Hardware can only transmit 'Apple TV App Data' onto a "television"; and in fact, Apple TV Hardware will not relay Apple TV App Data to an Apple Studio Monitor, or any of the LG UltraFine monitors (5K or 4K) that Apple (sold - 5K w/ only 1 Thunderbolt port) now sells (4K w/ 2 Thunderbolt ports).

HOWEVER, you do not actually need an Apple TV Hardware to view Apple TV App Data (including Apple TV+) on a Mac. All you need to do is download the Apple TV App, install it, and you can watch anything on your Mac, MacBook, iMac that you could watch if you connected an Apple TV Hardware to a "television".

Right? So, Apple actually saved you from having to buy an Apple TV Hardware, if you have a Mac?