Basicaly yes, though I would have phrased it in a different fashion.
Kenjutsu is a classical weapon art used and designed for use with real "live" weapons.
It was used by (more or less) professional warriors to kill the other guy by any means possible.
Kendo, by and large is a sport, specificaly created NOT to get you hurt.
The target areas of kendo are well armored, and would be even better protected by warrors in period armor.
The target areas in kenjutsu are pretty much anywhere you can hit---with blows specificially targeted to where they can do the MOST harm.
The weapon of kendo is a shinai--a split bamboo "weapon" that can cause some nasty brusies but won't crack your skull/break bones like a bokkon--the preferred training weapon of kenjutsu.
Kendo is a fine art, with many benefits.
But kendo and kenjutsu are VERY different things.