True.
Historically, the nautical mile was
defined as 1 minute of latitude (technically, 1/60th) of the distance between two lines of latitude.) The problem is that the earth isn't round. So while the nautical mile is 6080 feet, the surface distance between the poles is something different from 10,800 (180 degrees of latitude x 60 minutes per degree) nautical miles.
In practice, though, "a minute is a mile" is a useful rule of thumb. Just remember to use minutes of latitude, as a minute of longitude is very different at 50 North than it is at the equator.
Note, too that... precision is not always practical. Consider this:
-- a nautical mile is 6080 feet. That's "about" 2000 yards
-- that means that a minute of latitude is "about" 2000 yards
-- that means that .1 minute is "about" 200 yards, and .01 minute is "about" 20 yards.
In "practical" terms, that means that a position of DD MM.mm puts me within a couple of boatlengths of where I am on the planet. I can't think of a situation - in recreational boating - where I'd find utility in knowing my position to within 1/1000th of a minute (2 yards), except perhaps for the intellectual challenge of it.
...especially because most of the artifacts on our charts - even/especially electronic ones - are not rendered with anywhere NEAR that level of precision.
ymmv...