Correct. There is formative assessment (which is what you were referring to, and is what good teachers have always used) and then there are the crazy-making summative assessment practices currently in vogue. "Instant feedback" isn't the same thing as useful feedback, which requires something more than yes/no on a multiple choice assessment or a peek at the solution (which only has about 90% probability of being completely correct in the best of modern texts) in the back of the book.

Schrödinger's cat walks into a bar. And doesn't.