Correct, though actually isn't CloudFront just a CNAME that could work with any provider?
One reason you might want something more advanced like Route 53 is if you wanted to point the "naked" domain (example.com vs www.example.com) to CloudFront. You can't just use a CNAME on an apex record, you need to use something like Route 53's "Alias" records.
One other (minor?) reason is performance. Route 53 allows you to have ALIAS records, which are a single DNS lookup - whereas CNAMES will incur a second lookup.
One reason you might want something more advanced like Route 53 is if you wanted to point the "naked" domain (example.com vs www.example.com) to CloudFront. You can't just use a CNAME on an apex record, you need to use something like Route 53's "Alias" records.