Frequency vs. Summary Statistics (Summarize)

[Craig_Eissler_Iceman]

Hello, I've posted something similar to this in the past and received some good responses and answered my initial questions about this: Frequency vs. Summarize (Summary Statistics)

But, now I'm back looking at it again and just wanted to see if I can get some confirmation.

See below: Are my associations between the two correct, even though they're using different terms -- and, of course, that leads me to ask "why different terms?" If so, then is the only real difference between the two is that Summarize (aka Summary Statistics) offers more than just "Sum" as a 'Statistic Type' and "requires" you to choose a statistic?