Correct. It flattens the wave. Hull speed is misunderstood. The formula was devised in 1670 to estimate the speed potential of a warship’s displacement hulls. It’s outdated and has been supplanted by more accurate methods, but close enough to convey the concept that a boat that displaces water gets trapped in a trough between the front wave and the wave created as the “displaced” water returns.
There was a great post recently about the percentage of influence waterline length has on speed vs. width, etc.
The thing to remember is that a longer boat is faster If you have the strength to push it, and a narrow boat is easier to paddle, and some people can paddle faster than others. Most of all, as the boat gets trapped, escaping becomes exponentially harder, so the key as I see it is to manage a steady speed just under the point where the effort reaches that increase. Finding that point is the key to happiness.
The often overlooked point is that the boat has built in limitations. The only way to change that is with the paddler and paddle combinanation. I’m still learning about the paddle that I owned for over 10 years. Don’t take the paddle for granted.