That's my understanding as well. I think in the UK the industry refers to marbling as any visible fat in the meat.
But there's two types of "marbling". One is inter-muscular and is lines of fat between the sections, and the other is intra-muscular which is actually in the meat. But from the research I've done, the intra-musclar fat starts as invisible to the naked eye and little globules on the strands of meat, but then does become visible as the animal ages or puts on condition or a mixture of the two. Then the intra-muscular fat shows itself as little pockets of fat, speckles, in the meat. To me, for my taste, a piece of beef that has no visible speckling is not quite ready but that's personal.
The other things that I derived from researching it (and 99% of the evidence is outside the UK at the time), was that it's the intra-musclar fat that contains the flavour and without it you just have stringy, tasteless matter. Also, that's where the omega 3 is contained. And the fat containing the omega-3 has a very low melting point.
The fat in the steak below (from a 27 month old Dexter bull) disappeared immediately it hit the frying pan, just the subcut/outside fat remained.
