Somewhat correct. It is not blue or red "light". Rather it is the blue or red "spectrum" of the light. Like a rainbow there are 7 colors to make white light. Plants can only absorb at blue and red spectrum. Warm tone lights around 4000K have the highest red spectrum. While 6000 - 7000K have more blue spectrum. Actually for plants, any lighting above 6500K is a waste unless you are doing marine tank which needs above 8000K. For plants too high light conditions above 6500k will result in algae (expecially blue green algae).
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