A good thermostat will have a "jiggle valve", yes that is it's actual name, lol.
It is a small hole in the thermostat plate with a metal pin in it.
It's purpose is to let air out when refilling the system.
Metal pin "jiggles" when coolant is flowing and keeps the hole open.
So yes the jiggle valve will let some coolant flow.
But no, the thermostats main valve will be closed tight, until +/- 3deg of its rating.
A 195degF thermostat will be completely closed until coolant at the thermostat location is at 195degF, and it will be fully open at 210degF, approx. 15degF above rating.
Ford uses 190-195degF thermostats because operating temp from 190-210degf helps keep oil cleaner(longer engine life) and gives better MPG, more efficient combustion.
Thermostats use WAX in the center cylinder as the temp sensor, just FYI