On the one hand, there's some truth to this, but...
I've noticed how poorly SBMM works in this game, using pubs as an example.
In the same lobby, matchmaking placing people who are desperately trying to get a good spot by avoiding fights. This lands them in very sweaty lobbies (often high-ranked, but with low damage and few kills).
And then I hit a wall, because ultimately, these people are unable to engage with other people (too much skill difference).
So if you're constantly avoiding fights, but you get a good spot or somehow win, Apex thinks you're good enough to play with the masters. Is that good? It depends on what you like.
Of course, we all know that SBMM is completely broken in Apex. In one lobby, I can have people with three pred badges on their banner, and then I'll meet someone who plays like a typical bronze.