Exactly. And on a personal note, my early-1990s self would have _loved_ to have seen traditional martial artists clean up at MMA competitions. I was heavily into Tiger Style kung fu.
But after getting my clock cleaned in a few friendly-ish matches with local boxers and judoka - and after seeing the same results with the far-superior practitioners in the early UFC - I was forced to admit that I had been absolutely wrong about the practicality of my art. My fellow kung fu practitioner (who participated in some of these matches) sparred a boxer, got destroyed, and said something along the lines of, "Yeah, I could totally pulled off some really sweet palm strikes if he hadn't kept punching me in the face for, like, the entire match."
An art practiced in a live manner with a resisting opponent seems to _always_ be more effective in real life, even if it's somewhat handicapped by rules of sport.
Specifically, about six months into studying judo (after switching from kung fu), I got into an altercation outside of a bar. A larger man threw a punch at me, and I instinctively clinched. I was scared shitless and exactly zero of the fancy kung fu techniques of the previous three years came to mind. Instead, the judo techniques I'd trained for much less time - but under conditions of resistance and fatigue - basically activated themselves and my panicked mind just observed as my body dropped the guy onto pavement with a simple drop-knee shoulder throw. Fight over.
It remains one of the most important lessons I've learned about martial arts and the human mind in general: the unconscious mind is in control. And it's less flexible than the thinking mind, but when it's trained appropriately for the situation at hand, it will respond with a speed and certainty (especially when fueled with adrenaline) that feels preternatural.