Yes, this is exactly the reason. iOS has customizability limitations.
It’s primarily based on comments for which this wishlist thread for the last 4.5yrs was intended to represent:
For the most part, people have not liked that the Wyze notification sound blends in with the sound of 99% of all other notifications. Sadly, I think this might be the only way they can do this for iOS users. Android users have lots of different options for this, but I don’t think there is any way for Wyze to make it optional or customizable on iOS. I could be wrong (I’m not a huge iOS guy), but it would be nice.
I wonder if it will be possible to have a different sound for different kinds of notifications/channels in the future.