Yes, that's one of the core principles of git : it's distributed.
It means that no repo is central in and of itself. When a team uses an online git platform like github/bitbucket, it's only a choice of convenience, which could be revoked at any time for another workflow if needed.
(For that matter, you could as well have a repo on your machine, then clone it on the same machine, then pull/push between these two.)
As a sidenote, even if not at the heart of your question, something else lures some people into thinking that their online repo is "different" than the local ones : it's the fact that you can have full clones or bare clones. Bare clones are limited, mostly by having no worktree and been only interacted with by pull/push. Github repos are like that, and many teams use a bare repo in a centralized role. Thus the confusion.