Yes, it is correct to think of a wavelength as the distance traveled by a wave over one complete cycle. When a wave propagates through a medium or through space, it undergoes oscillations or vibrations. The wavelength represents the spatial distance between two consecutive points in the wave that are in the same phase, such as two adjacent crests or troughs.
As the wave propagates, it moves through successive cycles, with each cycle corresponding to one complete wavelength. The distance traveled by the wave in one complete cycle is equal to the wavelength.
For example, in the case of a water wave, if you observe two adjacent crests passing a fixed point in the water, the distance between those crests would be the wavelength. If you measure that distance and consider it as the distance traveled by the wave over one complete cycle, you would be correct in interpreting the wavelength in this way.
Similarly, for other types of waves, such as light waves or sound waves, the wavelength represents the distance traveled by the wave in one complete cycle.