Yes, I believe that's correct. In the new system units like this are somewhat less effective. 4,000 hits are a waste if you crash into a crappy unit that would have been wiped out by half as much. In the old system the extra hits would get spread around to the entire enemy army (or parts of it - I really have no clue how hits were distributed in the old system).
Even in the old system sometimes huge amounts of hits would be wasted and I must say that few big sirion/fontan battle were heavily influenced by the luck of the hit waste distribution. Especially whenever cavalry was charging for lots of damage.
