Yes, you are reading right. There is a website with the current digitization of the Vatican Library. The images are watermarked but that does not interfere with doing research. From the website: "The project aims to digitize the entire Library' collection namuscripts : 80,000 (excluding the archival units) mostly from Middle Ages and Humanistic period. See https://digi.vatlib.it/news/#news-1
Here is a description from Google Gemini of the digital library.
The Vatican Library has embarked on an ambitious and ongoing project to digitize its immense and historically significant collections, making them accessible to a global audience. This initiative, primarily housed on the "DigiVatLib" platform, offers free access to a vast array of materials, transforming the experience of engaging with these irreplaceable artifacts.
The digital collections are remarkably diverse, encompassing a wide spectrum of historical and cultural heritage. Chief among them are tens of thousands of precious manuscripts, many dating back to the Middle Ages and Renaissance. These include not only theological and ecclesiastical texts but also classical Greek and Latin works, Arabic, Hebrew, and Ethiopic manuscripts, and even early copies of works by influential figures such as Aristotle, Dante, Euclid, Homer, and Virgil. The digitization process captures these intricate documents with high resolution, preserving their delicate details, illuminations, and sometimes even their original blemishes.
Beyond manuscripts, the digital library also features a substantial collection of incunabula (books printed before 1501), offering insights into the early history of printing. Furthermore, researchers and enthusiasts can explore archival materials and inventories, providing a window into the administrative and historical records of the Church. The collections are enriched by graphic materials, coins and medals, and various other printed materials that form special projects within the library's holdings.
The digitization effort serves a dual purpose: long-term preservation of these fragile and invaluable items for future generations, and opening up their contents to a much wider public. The platform utilizes International Image Interoperability Framework (IIIF) technology, enhancing accessibility and enabling scholars to easily compare and utilize these resources alongside those from other major institutions. While the project is ongoing and a significant portion of the vast physical collections is yet to be digitized, the Vatican Library's digital endeavors represent a monumental step in democratizing access to some of the world's most treasured intellectual and artistic heritage.