Yes, that's how I remember it. It's also worth noting that the fun parts of perl were largely replaced by ruby. The ruby one-liners and perl one-liners are pretty much the same. And eventually, gems got bigger than CPAN.
You're also right about mod_perl vs php. Shared hosting was really common and mod_perl was really unpleasant.
At some point it's just goodbye perl and thanks for all the scripts.
Yes, there was real apathy in the Perl community - an attitude that Perl is a better language than PHP so why should we lower ourselves to compete. The endless MOP debates didn't help either and for those waiting for Perl to sort it out Ruby was there with everything they needed. Moose, Moo, Mouse - talk about fiddling while Rome burns. Perl was in no state to compete with Rails' elegantly-packaged Omakase. Another factor which affected Perl 5 in the mid-2000s was the diversion of resources to Perl 6 when Perl 5 had 3 sharks (PHP, Ruby & Python) circling around it. Meanwhile newsagents' shelves were full of dedicated PHP & MySQL magazines and the more generic web dev mags invariably had an advanced section featuring sites buillt with PHP & MySQL. It was already game over for Perl.
You're also right about mod_perl vs php. Shared hosting was really common and mod_perl was really unpleasant.
At some point it's just goodbye perl and thanks for all the scripts.