That is the implication of a study that was done in Nevada, one of the few states that mandates terpene testing and labeling (of the top 3 terpenes). The remarkable result of their terpene analysis was that the 396 different strain names really fell into just 3 groups, or clusters with a single dominant terpene.
We've made the case that consumers should focus more on the terpene and cannabinoid profile over strain names, or "type", and this study is more corroborating evidence. If you have traveled around a bit and tried a specific strain from different growers in different states, you know that all "Blue Dream" (or take your pick of 2000+ strain names) flower is NOT the same. We have done it and have the Certificates of Analyses (COA) to prove it. On our Key Knowledge page, we have a comparison of the same strain from the same grower over a period of 10 months. It's not pretty if you want consistency in active ingredient ratios and content.
This article is a good summary of the study from CBD Flowers with some educational content as well. The original research report states, "396 breeder-reported sample (strain) names within this set imply a false sense of diversity of products in Nevada dispensaries." This surely applies to most of the other states as well.