Exactly. Compare it with Italian "Tedesco".
They all come from the Latin word "Theodiscus", which meant "the common people" of what used to be the region of the Teutonic Kingdom in medieval times.
Then every language had their own version of the word:
I spent 5 minutes carefully reading the comments and giving lingots for people just because they mentioned Finland here or there... And I'm not even Finnish... So nice that Swedish course contributors included a sentence for those who adore Sweden's neighbour. Tack så mycket / kiitos paljon!