correct, it is a Steel guitar designed front end, very clean. I do own one and like it enough for Steel but DO NOT LIKE IT for the Telecaster.
For a couple of years I did a monthly " double duty" gig , I wanted to use the 112 for both guitar and steel. I caved. I ended up carrying the 112 and a Blues jr to the gigs. !
Problem solved !
The thing is though, the 112 is a pretty powerful amp and offers a very clean platform , it does not break up. If thats what you are seeking, it may fit the bill. It just depends how anal you are for guitar tones !
The PV Steel amps have a very unique mid range scoop, if you dial it in wrong you will hate the amp, if you dial it in correctly ( your taste) you may just like it a lot. They can be very mid range strong.