That's the basic breakdown on the physics, yeah.
You build a pipe super smooth and uniform inside, it smokes good.
OR you build a pipe with some kind of gimmicky "system" - a condensor, an evaporator, a baffle, a filter, whatever, and you CAUSE a problem in the airflow, steal that moisture, and pass the smoke along to the user afterward. Some of these systems work all right, but basically they solve a problem that they also cause, so a little healthy skepticism should maybe be involved. Users preferring a charcoal filter etc is another thing entirely.