Not quite; there's cases where a .iso will actually miss certain data, since they're just dumps of what the OS recognizes as data; you tend to lose some metadat

Not quite; there's cases where a .iso will actually miss certain data, since they're just dumps of what the OS recognizes as data; you tend to lose some metadata in the process. It's usually irrelevant (especially for data storage disks, which are most of the medium), until it isn't and then the format stops working. A basic example tends to be CDs with copy protection; ISO can't properly handle the protection (since the format doesn't support it), whilst the .cue/.bin format is a more accurate representation of the disk. You often don't need the disk in .cue/.bin, but in some cases you do want to store the copy protection as well (for example, with PSX emulation or if you very specifically want to digitize the disk itself, rather than the data on it.)