Yes, basically. Although if you're using a recent version of the contrib-spoor plugin you'd link to index_lms.html rather than index.html

You'd probably also want to remove imsmanifest.xml and all the .xsd files from the various language folders so that you've only got the one at the top level, alongside your language chooser page. Although the others should be ignored some learning management systems are pickier than others and may not like a zip file containing more than one imsmanifest.xml