Yes, that's my read on the situation. I'm a sales engineer and have an interest in small/medium businesses' organisational structures at the moment. From GSW's structure, it would appear they are a lean business (a high technican-to-manager ratio) and that is the model that GSW has emphasized they wanted to pursue at IPO.
I'm glad they are investing in UX/IX as customers care a lot about the 'look and feel' of software, not just about what it does for them.
