That’s pretty much it. The Toy Breeds were bred small basically for companionship. That the one breed grouping which (for the most part) lacks a “common job”. Toys are all over the map.
Yorkshire Terriers are considered “Toys” by the AKC, but that’s more like the NFL trying to ‘balance’ the number of teams per division, conference.
Similar thing goes on with the “Non-Sporting” group. Standard Poodles were originally developed for hunting water fowl. By rights they should be a “Sporting” Breed with all the other “Gun Dogs”. But I suspect that was a numbers game too. The fact that Poodles have outrageous hairdo’s probably making them show-pieces probably also has something to do with it.
Knowing the sort of lives most poodles lead nowadays, I found it rather interesting when I learned they were originally bred as hunting dogs.
We have Cavalier King Charles Spaniels, which were originally referred to as comfort spaniels. They were bred for the upper classes to provide companionship and warmth in castles.
Today they can be trained to work, for example retrieving water fowl, but they are happiest sleeping at your feet or in your lap.
Ours are cheerful clowns/couch potatoes.