Yes, it is more of an engineering achievement than a physics discovery, but I would not read much more into it. The nobel prize is very frequently given to more of an 'engineering' discovery, as it's goal is to be given to the achievements which benefit man the most.

Just look at several Nobel prizes. The invention of radio, the invention of special gas valves used in lighthouses,the invention of the cloud chamber, the invention of the laser, the invention of the ion trap, etc.

Physics is still very active, but unfortunately we can't be discovering QED everyday.