Yes, that is correct. But the car would be a bear to drive…
The centerline of the tire would scrub around the intersection point of the SAI and the ground. Every bump you’d hit would try to tear the steering wheel out of your hands.
SAI is there to get the steering center close to the centerline of the tire. You’d still like as small an SAI as possible but run some pretty decent amount of caster so you get more camber gain in cornering.
Keep in mind, camber gain also comes from the suspension design itself. If the ball joint is lower than the a-arm bushings on a strut car, there will be some camber gain added to the caster induced gain as it compresses into a turn.
If there are 2 A-arms - short upper and longer lower, you can design more camber gain into the car. So add up caster induced camber and suspension induced camber and you’ve got the tire pretty well positioned on the outside for traction.