Precisely. When personal computers finally called the attention of corporations, VisiCalc was already a has-been.
Here is a snippet of Jobs official bio by Walter Isaacson that seems to corroborate my perception of that era:
When IBM introduced its personal computer in August 1981, Jobs had his team buy one and dissect it. Their consensus was that it sucked*. Chris Espinosa called it "a half-assed, hackneyed attempt", and there was some truth to that. It used old-fashioned command-line prompts and didn't support bitmapped graphical displays. Apple became cocky, not realizing that corporate technology managers might feel more comfortable buying from an established company like IBM rather than one named after a piece of fruit. Bill Gates happened to be visiting Apple headquarters for a meeting on the day the IBM PC was announced. "They didn't seem to care", he said. "It took them a year to realize what had happened".
Reflecting its cheeky confidence, Apple took out a full-page ad in the Wall Street Journal with the headline "Welcome, IBM. Seriously". It cleverly positioned the upcoming computer battle as a two-way contest between the spunky and rebellious Apple and the establishment Goliath IBM, conveniently relegating to irrelevance companies such as Commodore, Tandy, and Osborne that were doing just as well as Apple.
*They still do.