Yeah pretty much. If you can send the correct codes to the car then you can put it in programming mode and program a blank FOB. FOB's are openly available from the dealer or online, there aren't any purchasing restrictions currently.
Currently only the Consult-III has the programming codes, but an inline serial data sniffer could be used to learn the codes and program a home made device to do the same. Only saving grace is that this requires a rather intelligent criminal, but if someone starts producing "programming devices" then your average car thief will have no problem.
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