Correct.

In to the watch-only wallet you need to import either an individual address or the master public key from your airgapped wallet. If you have the address written down/printed as part of the paper wallet, then you can enter it directly from the paper wallet in to your watch only wallet. If your paper wallet only contains a private key or a seed phrase, then you will first need to import that in to your airgapped wallet, and then transfer either the individual address (in the case of an individual private key) or your master public key (in the case of a seed phrase) across to your watch only wallet, via either typing it manually, a QR code, a USB drive, a CD, etc.