Yes – it’s just like that. You have to retain your own self while contemplating other selves’s influence on you without it actually influencing you while ALSO contemplating your influence on them and how it all ties together.
See how it sounds like goobledegook? But it’s not.
The level where it gets tricky is point where the you that is trying to be the objective observer is ALSO a part of the system you’re trying to describe and distance yourself from. THAT’S when it crosses over into experiential because you can’t.