This has been iOS's (and macOS's, for native apps) model for a long time, yeah. "Multiuser" computers are not common anymore, but computers with a bunch of apps/code that you put different levels of trust in (especially on a level on what you want a given app to have access to), now are.
macOS sandboxing for native apps has a long way to go to catch up with iOS. As one example, any application can read from your clipboard at any time. Web apps are, I believe, much better sandboxed.
It's very different from 20-30 years ago.