Yes I think this is correct. RW calculates the brake force by using a Percentage of Vehicle Weight setting. This might have been a simple way for the original coders to develop a braking system that would model the higher brake forces on loaded cars, but it can't produce anywhere near realistic numbers as far as I'm aware of.
And besides, on all default cars this percentage setting is also very high, giving unrealistically strong (or let's call them "arcade mode") brake forces on all cars.
Kali and a few others once did a lot of groundbreaking work in this department, and I think Kali also came up with a new "brake force percentage" setting that gave a good average brake force for LDs and MTs so that at least mixed manifests would brake reasonably prototypically. Unfortunately I couldn't find the thread when I searched for it now, does somebody remember where to find it?
However, coming to think of it, I think your assumption is absolutely right, to get really accurate brake forces for MTs and LDs one would most likely need to set up individual car blueprints for both just like we did in MSTS. So we would have to sacrifice the in-game (un)loading features, but I could easily live with this if I can get my mile-long braking distances back.
Cheers,
Michael

