Pretty much. This is basically a free "Thousand Talents" program for much of the EU, India, Vietnam, Japan, South Korea, Israel, and others.

This is ridiculously stupid given how vast swathes of industries we want to redevelop need talent from our partners in the EU, Japan, Korea (still opposed to Hyundai's visa shenanigans, but two wrongs don't make a right - also interesting how HN is so positive about this but so negative about that), etc