Correct. Good friend of mine couldn't do service due to a physical disability and paid it. He wasn't unhappy with it. His reasoning is that defending the country is a good thing and if you cannot do it yourself - for whatever reason - it's okay if you instead help by paying.
That’s quite a magnanimous attitude. As an American with some disability, I feel the need to save all the money I can while I am able to work in order to meet my inevitable healthcare needs where the social safety net is very thin. Perhaps Switzerland is different? Also, I do not feel like most of our military spending has served to make us safer in quite a while. Perhaps it that effort was focused more locally, it would be easier to accept.