No, but that is still the most common way Peacock makes sense. It often works best as a supporting subscription rather than the one service expected to cover everything. The stereotype exists because Peacock's strengths are targeted: specific networks, selected sports, and lower-cost value rather than the broadest possible all-purpose catalogue.
The reason this misconception survives is that Peacock does have a clear centre of gravity. Its strongest case is still people who already know they want NBC, Bravo, selected sports, or a lower-cost complement to a broader streaming stack, which is why people reduce it to a narrower stereotype than it really deserves.