Yes indeed, but the wok stays hot and continues cooking after you lift it. With thin woks that's not an issue, they have barely any thermal inertia. With thick ones though that's not the same story, food is going to continue cooking for 15 to 30 seconds after you turn off the heat. With my style of cooking that's not desirable.
But maybe my 1mm thick wok would work on induction? Everywhere I read it works better with thick pans, but does this means it doesn't work at all with a thin one, or it's just a bit less efficient?