Yea, that's a very accurate guess - the way to think about it is that Stripe Atlas will more or less do the bare minimum necessary to get you processing payments on Stripe (though they put you in touch with folks to handle the rest).

Clerky's more of a full-package solution from the legal side of things (but obviously not on the banking / payments side).

There's also no need to apply for Clerky - anyone can just sign up and get it done immediately.