Yes — and it’s the most striking thing about Y-DNA. Your Y-chromosome is physical evidence of an unbroken father-to-son chain: a single break anywhere and the chromosome simply wouldn’t be here. So a continuous line of direct paternal ancestors back to the formation age shown (and well before it) isn’t just a reasonable assumption — it’s a certainty.
Two things to keep in mind: an unbroken line of people is not the same as your ancestors staying in one place — they could have moved over the generations — and the formation date is an estimate, so it’s best read as “back to at least” that age.