It is.

My read through this document suggests that the maximum usable range may be as far as 5 meters, or as little as 1 meter: https://rfid.michelin.com/wp-content/uploads/2024/07/dataShe...

That's not as far as BLE or TPMS can work at, but it's not exactly like the NFC arrangement in a credit card, either. 5 meters is enough for a motivated attacker to do some undetected bulk data collection.