Yup, it's due to the fact that we perceive green as much brighter.
It's actually very interesting to look at "constant luminance color wheels" which correct for this perceptually:
https://www.researchgate.net/profile/Ralph_Redden/publicatio...
https://i.stack.imgur.com/f4n0P.png
What we traditionally call "yellow" isn't even present, it becomes more like "khaki" or "olive".