Indeed

It's the same reason why you can read this:
As lnog as the end lttres are in the smae piotosin, yuor biarn fllis in the gpas

There’s also some interesting studies about word shape that relate to this too. And not just the shape of the letters/words but also the shapes around the letters. So, long blocks of copy in all caps are more difficult to read than the same words set in sentence case.