Correct - and I'm shocked at how many HN readers are so hilariously wrong about diet advice.
I've seen people here say "you can't outrun your fork" as though one of the greatest impacts of exercise (appetite suppression and hormonal renormalization) doesn't happen.
Also, the people trying so hard to disprove calories-in-calories-out here are even funnier. I can tell that the average HN user is overweight just from these comments.
Eating low-carb doesn't reduce weight directly, but indirectly. It reduces hunger because you don't get the sugar spike and subsequent crash which causes you to feel hungry 2 hours later. Instead, you get hungry 6 hours later. This helps reduce snacking between meals and total daily calories.
Low-carb also helps because the carbs you eat are turned to sugar which your pancreas then has to produce insulin to tell your body to push that sugar into fat cells, increasing weight.