Well, not technically. At the start the number of "Verified" games was below the Switch, but recently even that surpassed it, iirc. And "Playable" has been higher for a while now.
It wasn't guaranteed that all or even most of them would work Day 1, while most of them work well enough for us, they might not work well enough for the average person who isn't familiar with re-configuring incompatible games to work properly. The thing that has changed is that many of the games became verified as they were tested and as Valve put out updates to fix incompatibilities.
You can also play Switch games on it, or almost any other Nintendo, Sega, or whatever other system out there. It’s as close to the holy grail of gaming as we’ve gotten so far.