I'm not affiliated with the rationalist community, but I always interpreted "Less Wrong" as word-play on how "being right" is an absolute binary: you can either be right, or not be right, while "being wrong" can cover a very large gradient.
I expect the community wanted to emphasize how people employing the specific kind of Bayesian iterative reasoning they were proselytizing would arrive at slightly lesser degrees of wrong than the other kinds that "normal" people would use.
If I'm right, your assertion wouldn't be totally inaccurate, but I think it might be missing the actual point.