It's good but not strictly accurate. No integer division is done per se, but the equivalent.
That is the subsidy amount starts at 50 and is right shifted one bit for each multiple of 210000 of the block height. So I guess the block height is divided but not the subsidy. A right shift of one bit is the same as dividing by two, a special case.

Maybe,

One right shift for a CPU, one huge leap for mankind.