You are right. But stereotypes change a lot from region to region.
I was talking with a colombian girl that lives in Buenos Aires and she explained it to me.
For example in Colombia they usually do like the Latin Lover style. A muscular dude with money, who pays for everything, kind of dominant, dresses well, etc.
Here in Argentina a skinny dude with no money and a 6 days beard can have huge amount of success with women if he can make them laugh, have a good conversation and some artistic skills. Is way more about your vibe and being interesting at some level. And make them laugh... they gotta laugh.
A Chad with a 6 pack would be seen as a guy who is trying too hard.
A Latin lover is just seen as gay and laughed at.
I'm the living proof of that lol. I think I would have zero success in countries like Colombia or Venezuela, or even in the US... but here in Argentina I'm doing way better than one would think because I can talk.
My ex said to me after breaking up: "You are not as pretty as you think you are... buy boy you know how to talk to a woman". I just shrugged because honestly I don't have a fucking clue of what I'm doing lol.