Yes - it's hard to burn a lot of calories through exercise without going to extremes and the resulting health/injury risks. Plus exercise often makes you hungry, so it can be self-defeating.
Better to look at exercise as for fitness and improving metabolic health such as insulin sensitivity, lowering bp, etc., and not for weight loss.
Although I have to say on a very low-carb diet I can exercise without getting hungrier - probably because I can more easily draw directly from fat stores. But when I was on a more "normal" moderate carb diet I would get very hungry after exercise, probably the body's signal to replace glycogen. So there is that. In ketosis, glycogen stores remain depleted, yet an hour weights and cardio workout even if you haven't eaten for hours - no problem!