Yep that's right. "Under the draft bidding system, all clubs have the right to bid for academy and father-son players in the draft but a club with priority over the player has the right to match the draft pick with their own draft pick or picks to achieve the points required to secure the player (all draft picks are given a points value)." https://www.theage.com.au/sport/afl/afl-draft-pool-drained-by-academies-20180502-p4zcxn.html
Here's an interesting map that shows which clubs have access to what across Australia. I'm sure there's going to be some unfair advantages. http://www.afl.com.au/news/game-development/nab-afl-rising-star-program/nga-clubacademies
Next generation AFL club academies – Victorian clubs region allocation
Western Bulldogs – Western Melbourne, Wimmera, Mallee, South West Victoria, Ballarat, (North Ballarat Rebels & Western Jets)
Essendon – North West Melbourne (Calder Cannons), West Arnhem (NT)
Melbourne – South East Melbourne (Dandenong Stingrays), Alice Springs (NT)
Collingwood – Central Melbourne (Oakleigh Chargers), Barkly (NT)
St Kilda – Inner Southern Melbourne (Sandringham Dragons), Frankston LGA
North Melbourne – Melbourne and Wyndham LGAs (Calder Cannons & Western Jets)
Hawthorn – Eastern/Whitehorse LGAs (Eastern Ranges), Gippsland (Gippsland Power), Katherine (NT)
Carlton – Northern Melbourne (Northern Knights)
Geelong – Geelong /Hampden (Geelong Falcons), East Arnhem (NT)
Richmond – Goulburn Murray, Bendigo, Sunraysia, North Central (Bendigo Pioneers and Murray Bushrangers)