That is correct. The bottom third of the draft, which was reportedly very weak. Can you imagine if they hadn't drafted 6 players in the top 150? That would be a tough draft, but since they retained 6 players (which is what several teams drafted entirely), it's not going to be a big deal. It should not be, and will not be a year from now.
Or put it a different way... Can you imagine if they had retained them all, and the 3 that were cut ended up being absolute wastes of roster spots? Would that be smart roster management?