Accurate.
That is contingent upon the sprockets being worn; in such an event, two new camshaft sprocket wheels, a timing chain, a guide, and a hydraulic tensioner will be required, in addition to labour costs.
If the camshaft cover is removed and the sprockets and chain tension are satisfactory, with no rattling at beginning indicating a leaky hydraulic tensioner, the cover may be reattached, allowing the vehicle to function well for many further years. The M271 engine does not have a specified replacement period for the timing chain. If it is satisfactory, no alterations are necessary.
These items only malfunction when used. If they are not used today, it will be an extended period before they deteriorate and ultimately collapse.