No, it means exactly that.
Latch waits will be because another process has an incompatible latch already granted (usually, there are other latch waits for other reasons)
Lock waits will be because another process has an incompatible lock already granted.
Gail Shaw
Microsoft Certified Master: SQL Server, MVP, M.Sc (Comp Sci)
SQL In The Wild: Discussions on DB performance with occasional diversions into recoverability