My understanding is that the reason ice cubes aren't clear is because the water is frozen from the outside inward, and the air in the water is trapped in the center. I've heard that one of the ways of getting the ice to freeze from the inside out is to put the ice cube tray in an insulated container. I don't often put ice in my whiskey, but I think I would be more inclined to do so if I had a large, clear cube like in your picture.
I've gone down the 100% clear big ice rabbit hole. Your explanation is correct. You need to have the ice freeze like how a pond freezes -- very slowly, ice forms over the top, ice slowly grows thicker, the slowly thickening ice pushes the air in the water down towards the unfrozen bottom of the pond. A small insulated cooler is how you make it happen in your kitchen freezer, since your 0 degree freezer freezes the water too fast. Instructions are on the internet.
End of the day, the big clear cubes/spheres are mostly for fun and looking cool. Even though I can make perfectly clear spheres and cubes, I settle for easier -- I can make 12 big cube batches that are about 85% clear overnight using a six pack cooler. The 100% clear are hard to make in big batches and can take a few days.
The functional justifications for the big ice are mostly nonsense. Ice can only cool a drink via melting and adding 32F degree ice water into the drink. So by definition, ice always does two things simultaneously -- cools and dilutes. If you limit dilution (which is the common justification for the big ice), then by definition you also limit cooling. And with the big tall cube sitting in two fingers of hooch at the bottom of your lowball glass, much of the big ice is above the surface of the whiskey. The top part of the cube mostly sublimates (goes directly from solid to gas state), so the tall part only chills the air, not your drink. But it looks cool.
Many whiskey buffs advocate adding a bit of water to the hooch to open it and round it out. Especially with high proof spirits. Easiest way to do that is to add a teaspoon or two of water to the glass. If you also like your hooch a little chilled, the best method imo is to add one SMALL (not big) piece of ice to the glass (clear or cloudy ice will do the same thing). You can also chill the glass or put the hooch in the fridge/freezer.
The only place the big ice actually makes functional sense is to KEEP an already chilled drink cold with limited additional dilution. Not to MAKE a drink cold. After I've chilled my Manhattan by stirring with ice, it then makes sense to strain the already chilled cocktail over a fresh big cube to keep it cold. That will stay colder than serving the drink up.
A chilled serving glass is always a good idea. Using fresh ice (big/small, clear/cloudy, whatever) in the serving glass is always a pro move. By the time you've finished shaking your drink, the ice in the shaker is warmed up, melting, and broken up into little pieces. If you serve with that warm/broken ice, the drink will get a lot more dilution. Straining the cold drink over cold fresh ice will maintain chill and limit dilution.
I worked my way through school tending bar (back when 18 was the drinking age). The #1 bartender tip -- use more ice. Use more ice in the shaker. Use more ice in the mixing glass. Use more ice to chill the glass. And then use more fresh ice in the serving glass.