Yes that is how long your barrel remains 'accurate' for.The basis of this is a simple assumption, that a hunting rifle can shoot 3000 rounds before requiring a change, ( a number of calibers will start loosing accuracy at a much earlier round count), assuming a bullet on an average takes about 0.002 seconds to exit the barrel that is a massive 6 seconds of active life.
I never actually thought of it this way. My .22-250 will last all of 3 seconds
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because of the system to get stuff which is 25-70 yrs old still in NIB condition 