Pretty much, after you strip away some protocol bits, yeah. It's usually not a word like "potato" or "hat" or what have you, but some random numbers your computer generates.This particular type of problem is nothing new; it's been an issue in programming for decades, but the people (staff of four, total, of which one is full-time) who develop OpenSSL are -extremely- underfunded and don't get a whole lot of time to audit for that kind of bug.
There's a LOT of software that's in extremely widespread use that has the potential to contain bugs this severe due to very similar circumstances.
For instance, for a number of years, THE database of time zone info was maintained almost entirely by one guy.
Things like browsers and word processors--the stuff people use--is sexy. Things like crypto libraries and the other stuff "under the hood" that people don't directly use? Not a lot of attention there.
In Xanadu did Kubla Khan
A stately pleasure-dome decree
Where Alph, the sacred river, ran
Through caverns measureless to man
Down to a sunless sea