Yes, that is currently the case. I don't think they (or anyone) expected it to be as popular as it is, and they are no doubt spending a lot of their time in just keeping the servers running (which is very impressive in itself! slow at times, but still going) and so they haven't done much to help with sorting and searching such an unprecedented large bundle yet. It will come. That's one reason why I helped the community by creating my spreadsheet.
They do say they are working on it on the bundle download page:
Note: Projects in this bundle are hidden in your library by default untill you first access them in order to avoid flooding your library. You can return to this page at any time to access any projects you wish to show in your library.
Note: We will be updating this page soon, we know it's difficult to navigate so many games. We know you want a button to add show everything in your library. No need to reach out. Any new games added to the bundle will automatically show up here. Thanks!