Yes, that's the definition I've always held. Had 20-20 vision but through working online (and likely smoking) my vision is not 20-20 any more. Short sighted, long sighted - is a bit counter intuitive but covers it.
Funny you say that because I'm British and only hear and say "near-sightedness". I certainly wouldn't be offended by "short-sighted" but instead confused because it has dual meanings.
It's not really a dual meaning, shortsighted in relation to thinking is a metaphor.