Child Tax Credit Expectations for HENRY Couples

My wife (31F) and I(33M) are making the transition from DINKS to a couple with a child. All my life I’ve heard about the great tax benefits of having kids. Looking at the child tax credit it looks like it starts to phase out at 200K and we (650 HHI) shouldn’t expect anything. Just wondering if this is correct or if I’m missing something big here.