While technically true. Companies are in the business of maximizing profits and they will cut corners if they can get away with it. A company interested in selling on the quality end of the spectrum will get the UL certification. A company interested in selling at the cheep end of the spectrum won't and likely cut corners to make the item as cheep as possible.
For that point, yes it is "just a label", even though the context behind the label / the label's meaning is very important.