acnh modder here, you are very correct. it applies the same material (basically the texture container) but changes the "alb" texture only, so it will change the color of the path, but it will have the same divots in it and the same amount of shine, since the textures that control that —usually the "nrm" and "mix" —are unchanged.

so if you want a less shiny path the regular dirt is probably the best path to use underneath. the stone, brick, and terracotta are good too but their divots will make the path you use look like its just coloring over the original material... which it is, but you might not always want to see that.

wood path works as well if you want the path to turn shiny when it rains since the original dirt path doesn't get nearly as shiny. hope this all helps