Yes. That was a wild flight of fancy rationalized into something that could make sense. One of his earliest and most radical ideas, and one that cemented his reputation as a Master of Scientifiction(sic).
Within the expanded Foundation stories not completely written by Asimov, it is suggested that the idea for Psychohistory was originally invented by R. Daneel, who introduced it to Hari Seldon for him to take forward. I've always been a little uncomfortable about that particular thread in the story, but it was one, again, that was hinted at by Asimov himself in "Robots and Empire", which other authors ran with, filling in the gaps in the Foundation prequel books.
People criticise Asimov's books for being written in an impersonal style, never really expanding on the main characters much more than making them players in the the story. But I find the prequel books, written by collaboration, a little too personal, with too much characterization. I guess that is why I never read them as completely or as frequently as the ones penned just by Isaac.
In retrospect, I think that modern generations will never read the "Foundation" trilogy. It's written in a measured, slow style that will not grab a modern reader.
I've yet to see the Apple TV adaptation, but when it is described as "based on...", I think that it will bear as much resemblance to the books as the Robin Williams film did to the original "Bicentennial Man" short story, or even worse, "I, Robot" which was a travesty,