Yep.
Also, CGI only started being massively used in the last two seasons, and frankly, it stills looks great today.
And, in general, DS9 had more impressive effects than Voyager, at least to me.
Ships exploded in a fiery blaze of glitter just a few too many times, IMO.
ETA: Although you couldn't necessarily make the argument that the two shows' effects looked different in terms of quality, there were clear differences to be seen. Voyager's attention to exotic types of nebulae, spaces and planets seems to reflect the desire to make exploration more interesting. DS9's emphasis on conflict meant that there were more multi-ship scenes, fewer anomalies. Good effects also seemed to be more spread out over each season in Voyager. It seems that ISB blew each season's budget in just a few episodes (consider season 5, dominated by Trials and Tribble-ations and A Call to Arms, consisted of many bottle episodes). The budget also went to different areas. Voyager created new aliens, but DS9 put many more into complicated makeup, many with unique sartorial looks. Arguably, those differences reflect the presentation of a network show vs. syndication, where the former is trying to provide a clear, rich and consistent look, the latter is trying to enhance the strength of its spectacles.