What does Exodus 32:1 mean?

When the people saw that Moses was taking a long time to come down from the mountain, they gathered around Aaron and said, 'Come on, make us a god who will lead us. We don’t know what happened to Moses, the man who brought us out of Egypt.' Exodus 32:1 - Modern Text Bible

(The people get impatient and scared, so they want something they can see and control instead of trusting God.)