Said in a different way, every player has a "true" projection that no one sees. What everyone sees is a variation of that "true" projection, and the level of variance will depend on your scouting budget. The lower the scouting, the better chance your variance will be greater (i.e. the ratings you see will be further from the "true" projection in either direction). The higher the scouting, the better chance the variance will be lower (i.e. the ratings you see will be closer to the "true" projection in either direction). But players will develop based on their "true" projection, and all the other factors that influence development (i..e playing time, coaching, training, injuries, promotions, etc., etc).
Or to answer your questions very succinctly...NO, YES.