That's absolutely right. I think younger fans (bless 'em) who weren't there at the time have a distorted perception -- partly based on U2's own self-mythologizing -- that R&H was this big disaster, when in fact it was one of the most successful albums of the 80s by a rock band, in commercial terms. Now, in artistic terms we could debate its relative merits (I personally think the studio cuts are the best work they've ever done), and the whole concept of the live + studio + film project was a bit of overkill, but none of this harmed the band's profile at the time. If anything, it got bigger. After R&H, they were the world's biggest band, with the biggest profile.
Pop was a completely different story, as it failed to generate much interest at all from the mainstream, and got a mixed reaction from the committed fanbase. It clearly did not galvanize the masses as the 1988/89 stuff did, and it greatly lessened U2's "profile".