Yep. The new fivethirtyeight model (now that Silver was let go by ABC and took his model with him) relies mainly on the polling data at this point, as does Silver's model. Clinton had a lead in the polls for most of the swing states in 2016. It's much closer in the polls than it was in 2016. The polls were unwittingly underrepresenting Trump voters in 2016.
Of course, pollsters have changed their polling methodology since 2020. And in addition, there has been a dramatic increase in partisan pollsters since 2016. So it's hard to know if they've accurately captured Trump voters, or overrepresented them, or still underrepresented them. But the fivethirtyeight model (and Nate Silver's model) think Trump's chances are better in 2024 than in 2016 because the polls say his chances are better in 2024 than they did in 2016.