Yes, that's the main difference in the terms. Varifocal just means that the lens can be adjusted to various focal lengths. Now it's almost all motorized to do that. Older cams you'd adjust manually typically using rod-type screws that you'd turn, one for length and one for focus. Which are relative to one another so you'd have to do back and forth to get right. Then it could change a little as you let go of one or the other and with temp, IR, etc. A real pain in the ass to get right. Lots of trips up and down the ladder.
There are usually a set of slot headed screws, flush mounted, on the bottom of the housing. One for zoom and one for focus and I can verify that they are a real PITA to get zoomed and focused properly.