It sure seems that way, but I think it's more nuanced. With a top-notch video version of pinball, I don't they get the physics wrong enough to notice. But what they are is incomplete.
The physicality of playing a pinball game is an integral part of the experience. Standing at the machine, pressing the flipper buttons, feeling the vibrations of the ball and mechanisms, etc. If you don't have that stuff, then the game is going to feel wrong even if the physics of the playfield are 100% accurate.