I'm not an expert. I'm not even a well informed amateur. In general, I think you are right.
There are normally two type of hull designs in the "trawler" world. Full displacement hulls and semi-displacement hulls. For a full displacement hull, you actually need very little HP to push the boat at hull speed, or a convenient fraction of hull speed. There are rules of thumb that folks here can recite from memory that can give you and idea of how much hp that actually is. So in theory, that is all you need. A couple caveats to that.
-You don't want to have your engine putting out max hp all the time. That will shorten engine life.
- We don't always operate our vessels in flat water and no wind. Both of those can cause you to need more hp to maintain your speed.
For semi-displacement hulls like mine, it is little different. If you push the boat hard enough, you can run at a speed greater than hull speed but at a significant cost in fuel and noise. Many boat manufacturers, such as mine and others, have been putting in engines in SD hulls that I think are simply overkill. I have 380hp in my boat which is way more than I really need as I only ever run my boat at displacement speeds.
We can let the smart and knowledgeable folks give you a good answer now.