Mostly true but more accurately you still lose up to 1/30 or 1/60 of a second with each macro execution, which is 0.017s or 0.03s. These are imperceptible delays to humans in immediate contexts but it's worth noting that 0.03s is longer than the drop in GCD time from a single accessory with Speed as the minor stat (0.02s) and I do feel the very real differences between 2.45, 2.48, and 2.50s GCDs in my RDM rotation execution over the course of a fight because my movement windows will shift by about 1.0s for every two minutes in combat.
The typical player user will probably find this loss acceptable in most macro contexts.