That's right the purpose of the acid is because proteins are like knots all folded up into coils. The acid denatures the bonds holding the shape (you can also achieve this with heat or high salts)-
Once the proteins are uncoiled it is left to the Proteases which act in the intestine. The proteases cannot do their work in the stomach for the same reason - they would lose their folding and become inactivated. In the intestine proteases like trypsin to break down the proteins into peptides and eventually into Amino acids. These intestines is also the where almost all absorption of nutrients happens.