Nope, that’s where it comes from. Yes it’s an old theory, but the idea is that whites are the best examples of the origin of humanity and humanity’s origin is from the caucus mountains.
In the eighteenth century, the prevalent view among European scholars was that the human species had its origin in the region of the Caucasus Mountains. This view was based upon the Caucasus being the location for the purported landing point of Noah's Ark – from whom the Bible states that humanity is descended – and the location for the suffering of Prometheus, who in Hesiod's myth had crafted humankind from clay.
In addition, the most beautiful humans were reputed by Europeans to be the stereotypical "Circassian beauties" and the Georgian people; both Georgia and Circassia are in the Caucasus region. The "Circassian beauty" stereotype had its roots in the Middle Ages, while the reputation for the attractiveness of the Georgian people was developed by early modern travellers to the region such as Jean Chardin.