Essentially, yeah. A program riker has been running for insights to help him with a decision in TNG. Even the producers supposedly hate the episode and consider the second to last to be the true finale.
I interpreted it as just the finale episode being the holodeck, not the entire series. Memory Alpha agrees:
In hopes of receiving some help before making a difficult personal decision, Commander William T. Riker of the Enterprise-D observes a holodeck simulation of the final mission of the original starship Enterprise, as commanded by Jonathan Archer, in the days immediately preceding the birth of the United Federation of Planets over two centuries earlier.
I don't see how an altered point-of-view is an issue. In my opinion, having that frame story doesn't detract from the importance of the narrative or anything.
Fair enough, i guess I remembered incorrectly, I skip that episode during rewatchings. I still dislike the shoehorned plot about shrans sudden daughter, and trip getting killed for literally no reason. They could have just not done that and let him live for the last few minutes as well so the episode doesn't also end on that extra sour note, in addition to being a last minute response to the show unexpectedly not getting renewed I mean.
(Does it show that I'm still pretty salty they canceled it right when it was about to get good? lol)
I think most of it is probably from having the TNG characters somewhat shoehorned into another show's finale. I personally think the episode would have been a lot better without them, but I don't think it's nearly as bad as it's made out to be.