Wikipedia gives the following formulation of the $\textbf{Local Submersion thoerem}$,
If $f: M \to N$ is a submersion at $p$ and $f(p)=q \in N$, then there exists an open neighborhood $U$ of $p$ in $M$, an open neighborhood $V$ of $q$ in $N$, and local coordinates $(x_1, \dots, x_m)$ at $p$ and $(x_1, \dots, x_n)$ at $q$ such that $f(U)=V$ and the map $f$ in these local coordinates is $$f(x_1, \dots, x_n, x_{n+1}, \dots, x_m) = (x_1, \dots, x_n)$$
Could I interpret the theorem as saying that for $p$ a regular point of $M$, there exists an open neighborhood of $p$ in $M$ for which all points in this neighborhood are regular points?