As someone who was way into Bionicle back in the day and now builds gunpla, that's more or less accurate. Only major difference is having to cut the pieces off the runners and clean them up yourself, but other than that, same general principle of putting parts together to get a cool robot.
It's a little early, but might as well mention it now: the Shizuoka Hobby Show is coming up later this month, May 14-18, and naturally that means more gunpla announcements. The advertisement lists varying grades, though some of these might be just showing previously announced kits again, like the MGSD Aerial or RG Wing Zero TV. The only thing I'd say is a guarantee is getting a first look at the PGU Nu Gundam.
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So, what are you hoping to see announced? I'm holding out hope that that leak pic from a while back is accurate and we get that RG Gundam X announced, as well as more Gundam X HG kits for its upcoming thirtieth anniversary. Longshot hope for more Turn A kits as well; it's still insane to me that there are only three modern kits for that series, and Bandai seems to be allergic to reprinting the MG Turn X.