No, almost, but here is the more accurate and descriptive situation:
Cyclists in the roadway may be noticed (if the driver is not distracted by a cell phone, etc. and on “autopilot”) just as any other obstacle may also be noticed... bag of trash, dog, etc.

Where as cyclists in the BL are noticed and then treated just like any other thing (be it cement truck or elephant) in an adjacent lane. However, once the cyclist “in the lane” moves over to the BL, they too are treated just like any other thing in an adjacent lane. (pretty much ignored….)

Sadly, since there are so few cyclists out there, it is quite easy and common for a motorist to forget that there was a cyclist in an adjacent lane, as the motorists rush about like headless chickens, forgetting (actually ignoring**) that they have responsibilities to other traffic.

**"ignoring," primarily due to the fact that there are so few cyclists are on the roads, and also due to motorists' inherent false thinking that cyclists don't belong on the road anyway (or to quote: "bicycles are supposed to get out of the way").

We will call my theory the Motorist Superiority Syndrome... and it is primarily indicated by motorists' thinking that they "own the road" and everything should get out of their way.

Now a cyclist can struggle for a place in some motorists’ minds (and on the road) by exhibiting certain behavior to counter the “Superiority Syndrome” of the motorist. This behavior requires that the cyclist “appear large,” and “steely eyed” and demonstrate “alpha dog” tendencies. Often, weak motorists will quickly respond to this cyclist behavior, and give way. However, another response can be a territorial struggle… where the motorist chooses to “teach that $%!& a lesson,” based on the motorists’ false belief that they are the “superior” road user. This power struggle can lead to either capitulation by the motorist or the cyclist, depending on the will power of each. Sometimes this struggle goes too far, and the motorist has a collision with the cyclist, culminating in a guilt-shifting tactic by the motorist, indicated by such common phrases as “I didn’t see him” or “he came out of nowhere.”

EDIT: BTW that “Motorist Superiority Syndrome” is constantly reinforced by popular media in both ads and in movies and TV, and even in talk radio, where shock DJs assault cycling as the "reason" for traffic jams… in spite of the fact that every single bicycle is one less auto on the road. Cycling on the other hand is often relegated to underdog roles… thus reinforcing the thinking that "bikes should get out of the way."