Essentially, yes - but wow where did you get that photo? That's nuts we'll do this and make a few cuts until we can dislodge the hang-up somewhat safely.. when is aid sketchy; every time you finish the cut, the tree "jumps" down to the next position, a little more vertical..Is that like the picket fence technique where the hung up tree breaks away and the cut pieces stay in the ground while you walk the stem up ever steeper angles (while hoping it'll finally drop out of its hangup before it goes vertical on you)?
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In most cases we will tie a pull rope before felling if we see a possibility of a hang up. Or, even better (if possible) - remove the tree that it's gonna hang up on first