If I am understanding this correctly
You are. And it should come as no surprise to anyone who noticed the damage type triangle on weapons and how pointless of an addition they've made that. The Diablo 2 solution to doing
the exact same thing the "damage type triangle" accomplishes is much better.
Rather than bothering with damage types that are almost completely ignored they simply gave +50% damage to undeads to every single mace.
Piercing and slashing almost never being different, or at least different enough to notice the difference is a joke. Not having the choice between them (Dex characters always use piercing, and strength characters almost always use slashing with a choice coming up
very rarely) further removes the point of having it.