meaning of so much as

In the following sentence, I want to know if I've understand the correct meaning or not:

This version holds that the wave function does not so much describe the state of the physical system as the state of our knowledge of the system.

Can we say that it means the wave function describes the state of our knowledge of the system more than it describes the state of the physical system ?

It is worth noting that in the Cambridge Dictionary, we read:

not so much sth as sth ​
If you say that something is not so much one thing as something else, you mean it is more the second thing: They're not so much lovers as friends. I don't feel angry so much as sad.

Solution 1:

Your initial thoughts seem correct. According to "this version" the wave function does more to describe the 'state of our knowledge' than the 'state of the physical system'.

I have heard this structure used most often to clarify when one might have been led to believe one thing, but something else is, in fact, more likely to be true. As in this variation on an example from Google:

"He kept saying that his novel was unfinished. I believe, however, that it was not so much unfinished as it was unfinishable."