Not too far off, but a few corrections:
First, the terminology. While the large chickens are often called standards, the correct term is largefowl. Remember, most of the bantams actually are in the standard. The term standards was coined back when bantams were very uncommon, were looked down upon, and were not yet recognized or standardized. It helped differentiate the standards from these new miniature versions of the same breeds.
The idea that bantams have "more varied and exotic colors and feather patterns than other chickens" doesn't make much sense, because almost all largefowl have a bantam counterpart. It is true that there are sometimes a few more recogized varieties in bantams than in largefowl, but the breeds which do recognize more bantam varieties, recognize them in colors which are to be found in some other breed of largefowl, somewhere. There is nothing more varied or exotic about them. Even the true bantams are found in varieties which can be all be found in some breeds of largefowl. Nothing new there either.