True.
But there are ways around that still without the Pages module. I’ve done this sort of thing to have a bit more freedom with URLs:
{exp:channel:entries channel="static_content" disable="member_data|pagination" limit="1" dynamic="no" url_title="{last_segment}" require_entry="yes"}
With that code I can have any number of segments in the URL before the entry title appears.
If that navigation structure needs to be flexible throughout the lifespan of the site then you are probably better off with Taxonomy (which I have used) or NavEE (which I have not).
I still wouldn’t use the Pages module for 200 pages.