Correct. If you're already writing a bunch of JavaScript for the client-side, then just think about this approach as migrating some of that client, UI logic to the server.
Frankly, Node is a way for front-end developers to write server-side code without having to learn too much new stuff.
Some people are side-stepping the issue by saying that the whole presentation layer must be moved to the front-end, but that approach is really incompatible with the web.
If anything, the current state of the front-end is thanks to server-side developers who want to bring their world view to the browser. (Think: MVC -> Backbone / Ruby -> Coffeescript -- apologies to the authors of those tools)