Yes, correct, the stockers are "switching type" O2 sensors that have a very narrow "field of vision" so to speak.
their operating range is from 0 to 1 volt, and the stoiceometric pooint (14.7:1) is at the .500 volt point, but has very steep approach and departure angles from that voltage. That's why you see them switching from lean to rich so fast and so often when in closed loop.
The wideband O2 sensors on the other had are a completely different animal.
Their operating voltage is from 0 to 5volts full scale and instead of a S shaped operating curve, the voltage vs. A/F ratio is a linear progression from 0 to 5 volts., with 2.5 volts being approx. stoiceometric.