Is this what pemmican is supposed to taste like?

YES.

Pemmican was a very old-fashioned way of storing food. Pieces of food embedded in fat. They melted fat until it was liquid and greasy, then added protein e.g. dried meat. It was originally an Indian creation, later adopted by settlers. So it is definitely very fatty and greasy. Keep in mind - it was designed for winter survival in harsh conditions. Your body needs energy. Fats have that stored energy. A good flavor was not the goal - just a food that lasted longer and had high calorie content.

Few users would like pemmican today. Some people make their own - with other fats that are more healthy (lower saturated fat). But any fat that is high in polyunsaturated fats and monosaturated fats will be liquid at room temperature. That destroys the object of making pemmican - the fat is a binder that holds the food together. It needs to be solid.