Kind of. The PAC could spend as much money as it wanted, but it couldn’t give above a certain amount directly to the candidate. Which they took issue with now because the candidate themselves gets a discounted rate for ad buys and the Democrats were getting more and more of their money from small dollar donations.

So the Republican PACs would spend say 100m and get the same amount of ads a Democratic candidate could buy with like 25m (those almost certainly aren’t the actual numbers, idk the actual discounted rate the candidates actually get. That’s just an example to illustrate the concept)