Doug,
I have not built that kit (nor any similar), but yes: with many plastic model kits, photo etched parts tend to be for replacing certain (by the nature of the material) clumsier and less detailed injection-moulded plastic parts.
Often these photo etched parts are after-market add-ons, frequently even produced by different companies.
For more information on building a model of the Titanic, you might find this site of interest: **LINK**.
/Mattias