Yes, but the country was largely unoccupied, and financial reparations were linked to ability to pay. Much, much less harsh than the impositions enforced on the losers of either the Franco-Prussian War or, of course, the Second World War.
Relatively speaking, the Versailles Treaty was not the overly harsh document that so many believe it to have been. It was certainly used to whip up anti-Versailles sentiment - a wave on which to ride to power by the Nazis.
There actually were those who believed that Germany ‘didn’t really lose’ the Great War. The ‘stab in the back’ myth was used by them too. Dan Snow has written and lectured on this. It’s interesting to look at things from a different angle.
The Franco-Prussian War reparations were allegedly based on reparations imposed on Prussia by Napoleon 55 years earlier. The problem with the WWI reparations were 1) it blamed Germany for the war, and 2) they were NOT linked to ability to pay - and that significantly worsened the Depression in Germany (starting in the early 1920s instead of 1929). The “stab in the back” arose from the fact that a year after defeating Russia (freeing up a million troops there), Germany lost because the US, which violated neutrality from the start by arming Britain for years before entering the war while complying with Britain’s trade embargo of Germany, simply overwhelmed them in the West.
You characterize the Versailles Treaty as not “overly harsh”; imagine if we had to give up California as a condition for withdrawing from Vietnam. Germany lost territory, as well as its few colonies (it was very late to the colonial game). We “saved the world” from German aggression while “the sun never set on the British Empire”.
Germany undoubtedly lost the war, but they certainly didn’t start it. As far as looking at things from a different angle, I live within a few miles of two locations where pro-German saboteurs destroyed arms factories supplying Britain in violation of out neutrality: Black Tom Island in Jersey City NJ (destroyed 7/30/1916) and the “Canadian Car & Foundry Company” in Lyndhurst NJ (burned 1/11/1917). We were in the war for years before openly declaring; the Lusitania was a legit target, and we knew it.