I think that's a pretty good analysis.

I note that in my experience, pure straight-up Call of Cthulhu really isn't all that enjoyable. It can be if you massage it into an "adventure" format, such as with the Delta Green mod (the hapless investigators become an X-Files type commando team, and the nameless horrors are a little less nameless and a little more squishy). Or you can go in a dark-humor direction with the helplessness and end up with something like Paranoia.