Yes that is the correct interpretation for CY7C0833V device. To add on to it, You can however share the bus with other devices since OE# signals can be used to put the get control of the bus.
In the Pin definition on Page 6, we try to capture the functionality/
Please have a look at Note 28.
*ISB1, ISB2, ISB3 and ISB4 are not applicable for CY7C0833V because it can not be powered down by using chip enable pins.