Yes Mike, but a boat anchor is simple, reliable and doesn't go out of its way to cut your hands.
Which means the PPK is not a boat anchor, as it will bite the hand that fires it, is not necessarily simple not reliable.
It was a good design in it's time as the PP, and worked as the PPK and PPK/S. It has been surpassed by more than a few better designs and some not necessarily that recent. For that size and weight today, it's better off a 9x19 class caliber.