Yes, all users who have been granted access to the project will appear on the Project Team tab, but they are organized into two distinct sections so it's always clear who is actively running the project versus who simply has access to it.
This section appears at the top of the tab and shows only the users who are actively managing or working on the project. For large workspaces with 10, 20, or even 50 users, this keeps the people actually responsible for the project front and center without any noise.
This section appears below the active team and lists every other workspace user who has been granted access to the project through their workspace permissions, but is not actively working on it.