Yes.
I didn't realize the high tension wire was a part of this discussion, I thought it was a given that it went from the coil to the distributor. Also, "to ground the points" is a misnomer since the points are grounded via the mechanical attachment of the distributor to the engine block. When the points close, they connect the coil to ground. When they open an impulse is released from the coil through the high tension cable to the distributor cap and to the plugs via the rotor.
Yes, a gross simplification, but maybe this is helpful.....