Is that how it works?
Discussion
In my view, yes. There are critical concepts to understand, like proof of work, decentralization, immutability, cryptographic security. Just the concepts themselves are not easy, but if you want to learn in some detail how each of these work, that's an easy 20 hours work each. If you don't do this research, you'll be fudded by someone who says "it's not decentralized, there are two mining pools who control the majority of the hashrate", or "transactions won't be secure when quantum computers get here", or "the government could just mine all the blocks", etc. If you don't have that deep understanding, you're just going based on faith/vibe, and you will be part of the herd running for the exits when some panic sets in.