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Short answer: Yes, it's working as intended.
Long Answer:
There are numerous threads on this. Apart from eReaders having 2.4" to 13.8" screens and 6" screens are at various DPI resolutions, the user can change the font face, font size, line spacing and margins. So while there are ways of having simulated page numbers to match printed books, these are really only useful for reference purposes. Kindle uses "location" natively which doesn't depend on screen size or how much text can be displayed per screen.
Some people like page numbers. Adobe (mostly on ePubs) has their own scheme, but % progress is maybe the most useful generally.
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