You are correct. I thought full stack meant before building the app start to finish, but the reality is often closer to putting out other people's fires in every layer. It does pay well though and you learn a lot of what can go wrong.
The fact that it pays well makes it a job you're likely to get laid off from. Most managers would rather hire two junior developers so they can screw it up faster or better yet hire some people in another country who are really fast and cheap at screwing it up.
That may be true but I'm not worried about that, I worry more about getting comfortable doing useless work. If I got fired it would be so much easier to go back to school, as the dream of lots of money while learning on the side would evaporate.