Yes, the answer is 1/2, so your math is fine.
Great question! Normalizing keeps the arrow pointing in the same direction, but changes its length so that it's 1 unit long. It's the "standard size", and it's reasonable to think of "normalizing" as a synonym for "standardizing".
Internally, Threejs does normalize the normal vectors, so you don't have to worry about this.
I understand your feeling, and I'm sure many people share it.