That's what has been generally understood. The interesting thing about pump stack construction is that order of construction is important; do it right, and a block of liquid can teleport up the whole stack in a single tick; do it wrong, and the block will move up only one per tick. (The game evaluates pumps in reverse construction order IIRC.)
The issue with build order doesn't affect how much fluid over time that can be pumped. It affects the latency and storage capacity of a pump stack.
For instance, assume you have two pump stacks of 100 levels. One stack is built from the top down, the other is built from the bottom up. Also assume that the bottom pump of each stack has a somewhat plentiful supply of fluid. Say 3/7 every tick.
Finally, assume you have a floodgate at the output of the pump at the very top of the stack, and that you also can turn on or off power to the stack via a gear.
So you open the floodgate and turn on power to both stacks.
The top down stack immediately starts to supply 3/7 fluid every tick.
The bottom up stack will take 100 ticks before is starts to supply fluid. However, once it does start supplying fluid, it continues at the rate of 3/7 per tick (same rate as the top down stack).
Now close the floodgate at the top of each stack while leaving the power on. Both stacks will eventually fill up with 7/7 fluid at the output of each pump.
Now open the floodgates and see what happens.
The top down stack will supply 7/7 fluid every tick for 100 ticks, then slow down to 3/7 fluid per tick. Additionally, there will be no fluid in the stack itself since the stack was unable to pull fluid from the source until the stack itself was empty.
The bottom up stack will also supply 7/7 fluid every tick for 100 ticks and slow down to 3/7 fluid per tick. However, each level of the stack will have 3/7 fluid so when the output floodgate is turned off, the bottom up stack will fill up to 7/7 fluid on each level sooner than the top down stack with was effectively empty while supplying 3/7 fluid.
Frankly, both stacks have the same long term capacity for moving fluid and deciding on top down or bottom up is merely an exercise in perversity. What I do when building a pump stack is to build a scaffold gear or axial every 3 levels, then build a pump attached to those gears or axials. That lets be build quite a few pumps simultaneously. After those pumps are constructed, I'll then build all the other pumps for the stack in an other mass designate (macros are your friend). Finally, I'll remove the scaffolding. Total construction effort on my part is simply 4 designation sessions for the entire stack instead of build a pump, wait for the pump to be constructed, build next pump, rinse, lather, repeat.