Yes, really. Nova's definition is exactly what I'm describing earlier. Here is their own definition, from the wiki you linked:

There is no simple definition of UPF, but they are generally understood to be an industrial creation derived from natural food or synthesized from other organic compounds. The resulting products are designed to be highly profitable, convenient, and hyperpalatable, often through food additives such as preservatives, colourings, and flavourings.

https://en.wikipedia.org/wiki/Ultra-processed_food