A high strength-to-weight ratio means nothing if the strength is not adequate for practical application.
To be of practical use, a material must first be strong enough for that use, regardless of weight… then and only then does minimizing the weight become an advantage.
For example, an ant’s strength-to-weight ratio is orders of magnitude greater than a horse’s. However, that does NOT mean we can put an ant’s strength to any practical use.
Yes, you are correct.