Here's how it went down...
Early in the match, Shawn Michaels kept fiddling with the turnbuckle whenever the ref wasn't looking. Eventually, he removed the protective padding and casually placed it back over the metal while the match continued. The Bulldog proceeded to dominate for much of the match until eventually, Michaels Irish whipped Davey Boy into that 'exposed' turnbuckle, causing great damage to the back. Michaels exploited that injury, but Davey remained with the upperhand.
For the finish, Davey was taking Michaels up for a superplex, but the damage to his back proved to be too much as it gave out and Michaels fell on top of him in a crossbody for the pin.
So yes, you are correct.
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