I think you are probably right.
Overall the Mercedes was the better car, and Verstappen was the better driver, helped by the best strategy in the final race.
I wonder if Hamilton (and Mercedes) took their eye off the ball a bit, and got caught napping.
When the challenger starts to show his form, he just ups his game a little and blows them away, this year he just could not shake Max off. It was noted by Max that they were both drained at the end of some of the races, Lewis has not had to work that hard in years.
Also don't forget how Lewis stole it from Massa on last lap at Brazil, good strategy and a bit of luck.