Yes, that's correct. You need a TV (or display) which specifically supports side-by-side, as well as special LCD shutter glasses (which are NOT the same as the NVidia glasses mentioned below).
Anaglyph mode works and does provide "acceptable" 3D for a minimal investment. The longer you use them, the better the 3D effect becomes, as your brain learns to interpret what you see. I used it on and off for a year or so.
You can buy cheap
non-cardboard red/cyan glasses on the internet, which improves the experience. Here's where I bought mine (link below). To reduce ghosting, I bought 2 pair and placed a second cyan lens on top of the other. The red blocks blue light sufficiently, so a single red lens is fine. If you already wear glasses, consider getting the "clip on" version, which is what I used.
http://www.ultimate3dheaven.com/prav3dgl.html
http://www.ultimate3dheaven.com/propqucl.html
I found that driving the SRV in 3D mode significantly reduces the motion sickness that I used to get.
Also, there is a bug in ED's anaglyph mode, the red channel is substituted for the green channel for the cyan "right eye" view, so the colors are way off (red is yellow and green is black, but the 3D effect is fine). I now use a 3D monitor and NVidia LCD shutter glasses, but will soon switch to VR when my Pimax 8K headset arrives next year.
ED is much more immersive in 3D, which is how I prefer to play it.