You are correct. When you're planning on soloing or short-manning a raid DPS is way more important than TDO. TDO is all about how long your mon can last. However, our current raid system has made TDO rather irrelevant since it's all about trying to beat the clock rather than trying to survive every hit the raid boss throws at you.
The TDO and DPS/TDO would only be worth considering in something like PvP since the timer would (hopefully) be non-existent. Also, if you don't have many revives and potions, higher TDO means less healing and re-lobbying.
There's is site called Poké Battler where you can test out your teams. I recommend that you check that out!