Exactly. However, I strongly recommend you buy the late 2020 version. The M1 chip is massively faster than the Intel processor, the battery is (really!) about twice as long-lasting, and the device hardly gets warm. Plus, it doesn't even have a fan. So it's massively faster, has twice as good a battery and is completely silent at all times.
As other users have mentioned, "Late 2020" indicates the release date of the MacBook-Air. However, the "2020" model (item 14324677) also has the Apple M1 chip, so there should be no price difference. However, I noticed that the older model "2020" (item 14324677) has an M1 8 Core graphics card and comes with a DE keyboard layout. The newer MacBook Air "Late 2020" (item 14167594) has "only" an M1 7 Core graphics card and has a CH keyboard layout, so the price difference is also justifiable.