Correct, currently in Python the type checking is implemented more in a linting phase than in a compiling or runtime phase. Though you can also get it from editors that do LSP, they'll show you type errors while editing the code.
I really like them, I'm a very long time Python programmer ('97) and so the ability to just bang something simple out and not care about the typing is nice at times, but for anything very serious at all it's very nice to have the option to add the type annotations and get the bulk of the benefits from it.
