Does a hard reset on Xbox One delete everything?

Does a hard reset on Xbox One delete everything? This option resets the console to factory settings. All user data, including accounts, saved games, settings, home Xbox associations, and all games and apps will be deleted. Use this option when selling or gifting the console, or as a last resort in some troubleshooting cases.

This option resets the console to factory settings. All user data, including accounts, saved games, settings, home Xbox associations, and all games and apps will be deleted. Use this option when selling or gifting the console, or as a last resort in some troubleshooting cases.