Correct. “Bear” actually derives from the word for “brown” (aka “the brown one”) rather that the PIE <asterisk>rkto- — think “ursus”. In facr, all germanic words derived from <asterisk>rkto- appear to be loan words from romance language (eg arctic).

Seems like the slavic version is roughly equivalent to “honey eater”.

Personally I’ve always thought this is because bears can both stand on two legs and roughly share a diet with humans. :)