Indeed, it's actually worse. You should only use it for stuff where factuality doesn't matter. Verifying that an answer is complete and correct is more work than consulting a reliable source in the first place.
I think it's an accurate assessment and still get some use out of LLMs. Brainstorming various things, tutorials, entertainment. Straight questions with a factual answers really are a poor fit. Just yesterday GPT3.5 told me the Belgian city famous for its mustard is Dijon.