Yes, in that everything was being recorded on analog tape in that era because it was the best quality recording format available.

The album is a little unusual in that by 1967 tape recorders with larger channel counts were becoming more common, allowing separate recording of most of the original channels. But linear editing of audio was very difficult, recording engineers still did the mix as live, so there were recording studios that hadn't seen a reason to make the upgrade or were attached to older equipment that they were very familiar with. Especially with analog equipment prominent recording engineers were often averse to new equipment since they would learn how to get the best results out of their particulat setup - and things like frequency response could vary noticeably from one model to another.

>2 track recording is still a rare & deluxe feature in most consumer gear!

Even in professional gear, it's usually a ridiculous jump in price - often double - to much fancier hardware to get more channels.

It makes sense as few people do need it, but I do wish there were more assorted consumer electronics that would throw in more channel recording just because. Rather than as an upsell to way more expensive gear.