Well, if you want to simplify it ... yes, mainly. Of course they do lots of other stuff, as does TC. But the implication I got from your post is that you were comparing TC's role to Jobs', and I thought we've evolved beyond that here.
Let's just get a little perspective.
In 2011 when TC took over, we had MacBook Pros that cost ~£1500, with 4GB RAM and a standard HDD, OS X Lion, which crippled older machines and ran horribly on newer systems, a massive backlash from the wait for the new iPhone 4S, and an even bigger backlash at its lackluster update (compared to the wealth of exciting rumours, of course), genuine concern over Apple's future, location tracking controversy, more stuff about Flash not being on iOS devices, and Android gaining significant traction.
Now we've got ultra-thin MacBook Pros with significantly more power, SSDs with read/write speeds that exceed that of 2xSATA SSDs in RAID, a much better OS and an even better update on the horizon, a company with a clear direction, and generally cheaper and more affordable products. Yeah there's a lot of bad stuff as well, but Apple is worth more than twice as much now. It's an unprecedented jump in fortunes, and Tim Cook has managed it exceptionally well.
He's also more open with Apple's pipeline and stance on controversial issues. This was a very big criticism of the Apple of old.
It's not perfect by any means; there's a lot I wish was changed and a lot Apple could do with their capital to make the bottom-line products worth buying. But boy am I glad we're in the Apple of 2015. If you could see the products now from 2011, I really don't think you'd make a similar comment. It's only because we've been slowly riding/watching the product curve that its true impact hasn't really hit.