For the most part, yeah. As Peter Jackson and Co. found out, it’s kind of hard to represent a shapeless evil presence without coming off as either indistinct (as in the Hobbit films) or faintly silly (the damned enormous firey eye again).
So you need a visible, physical presence to stand-in for the Great Other, the Heart of Winter. And what they’ve come up with isn’t bad, I just wish they hadn’t used the term “Night’s King.”