Well it does include that kind of behaviour but it's quite a bit more than just that. E.g. you could express something like "the parameter must be a date within the next 5 business days" - there's no static restriction. I'm not necesarily saying you should but just to give an illustrative example that there's less restrictions on your freedom to express what you need than in a static system.
>> types are isomorphic with schemas
I don't think that's a good way to think of this, you're imagining a rigid 1:1 tie of data and spec yet i could swap out your spec for my spec so that would be 1:n but those specs may make sense to compose in other data use cases so really it's m:n rather than 1:1