Essentially, yeah. Nothing in the charts really matches in flight reality. Especially because the props behave differently when faced with moving air than non-moving air aerodynamically too.
Static tests will give you an idea of thrust level compared to other similar motors tested exactly the same way, and will give you an idea what props a given motor likes, and over a broad selection they’ll give you an idea of how a given prop behaves.
They are very much not real world though. It’s like saying “this motor makes 500hp and these tires are big fat and sticky! It’ll do X seconds in the quarter mile and Y mph top speed”, without taking anything but the motor and tires into account.
Not weight, not transmission, not aero, not whether it’s a dirt track, etc.
Basically, thrust tests only give you a very broad view of the motor/prop combo.
Which is all to say, once you’ve bought the thing, don’t use thrust tests for anything except choosing props to try, and some assume that because it thrust tests well it’ll fly well.