I'm not fluent in Japanese, but my references for the language certainly translate it that way.
武 -- BU -- of or pertaining to military matters
道 -- DO -- way, art, way of life
武道 -- budo -- martial way, martial art
What translation for budo would you prefer?
Whether a martial art/budo is only, or even primarily, about "kicking asses" is a valid question, of course. But it seems to me that if a field of study claims to be a budo, then asking about the martial effectiveness of either the art or an individual practitioner is completely legit.
I'm of the same opinion.
I recall reading a speech by O'sensei, where (to paraphrase) he says that the reason the world is in the state is in, is because those with the wisdom/correct spirit to guide society, have been lacking this martial ability: might trumps right - but if right can negate might (as aikido is said to be able to) then society can progress.
Or you can flounce about with ribbons, and talk about peace, and not wanting to be martially effective...while the world burns.