Correct, but I think people are getting hung up on the price and rent-seeking aspect. The price is a farce. Really, what's happening is the restriction of knowledge to the ivory towers (and their VPNs).
I agree there is value added by curation. But today, academic publishing is an industry worth over $10b, and they don't actually pay for the original access or license of the content
or the editing and peer-review. Publishers do add value but not to the extent of the cost that's passed on to the public today.
This is an active Machine Learning task in a lab at my university. Given the kind of progress they are making, I don't see publishers finding much monetary value in this task in the future.