Yes you assume correctly.
There is no pavements! Just footways/paths and cycleways/paths.
And you are quite right, they are not an issue if done correctly, unfortunately as you seem to infer they are usually not done very well at all.
So you have to content with all kinds of street furniture, let alone what happens if you have a bus stop in the cycle lane and the number of people milling about.
There arises a conflict because the pedestrians can wander freely across either the foot part or the cycle part legally, the issue is that the cyclist technically should not leave the cycle way so can end up impeded by pedestrians and if you are in an area where the cycling density is quite low, (i.e.not cambridge/oxford) then ringing bells and calling warning is seen as quite a hostile action.
Indeed, I have been berated for "not getting out of the way" of oncoming pedestrains, I remain on the cycleway stationary waiting for the pedestrian to move, when I pointed out that I was on the only part I was allowed to be it was suggested that I "go forth and multiply"
The Dutch don't technically have shared facilities, they are each dedicated and appropriate to each others needs.
This is as close as they get to shared use. As you can see the pavement is for the pedestrians and the cycle route is for the cyclists and is demarked in a seperate colour, with a different surface. The pedestrians do not have a right of way on the cycle path and the cyclists don't have a right of way on the pedestrain path.
The closest to a shared provision is outside of urban areas where low speed mopeds (25kph or slower) are permitted to use cycle paths.