in a way you are wrong, you should see tyres traction like "how much longitudinal force my tyres can handle before sliding too much" (i.e locking in braking instance, also note that a tyre need to slide to provide some force).
So basically if your brake system is powerfull enough to provide enough torque moment to create a force on the contact patch that would be higher than this sort of friction limit, yes your are right, your braking event is limited by your tyre grip.
If your braking system is not able to provide such a braking torque, then your maximum deceleration is dictated by your brake system.
In real life, as Tristan is trying to explain you, on the big brakes attack as you get massive tyres load (also bear in mind you have load transfert that give even more grip to your front tyres) you are nearly never limited by your tyres but by the brake system as you would need to put a crazy amount of force on the brake pedal to have enough brake pressure to actually be able to have the brake torque required to get over your tyre grip. Then as you lose some load (less downforce + less deceleration & load transfert) you have to release the brakes as this time your tyres friction is the limit. That become even worse when you start turn-in as your tyres are now working in combined G situation.
The thing is that Tristan is using LFS as a simulation and isn't using the small things you can do in it you can't do in real life. Exept in Nascar or Endurance sometimes (i.e : need harder brake pad to last 24hrs), you never change any part of your brake systems to adjust their efficiency for a particular venue.