Yes, that's right so far!
However, note that EVERY address WITHOUT credit is not really immortalized in the Blockchain!
That means, with your method you can create any addresses, but you have no "private key"! (Also called "burn-adresses")
Consequently, you can also send nothing from this address!
Because with today's technology it is extremely difficult up to impossible to calculate the right private key for these addresses...
With
Vanitygen: Vanity bitcoin address generator/miner [v0.22] you can calculate an address... but definitly with less digits and letters!
From current cause still another Burn address, which I'm sure you haven't seen yet:
1FuckYouGraigWrightxSatoshiXc6ppN