Sounds correct. Do you think it's a problem though?
Yes, herbicide resistance, particularly to glyphosate (aka roundup) is one of the main reasons for GMO crops. I believe the period of patent protection on the earlier strains has already expired.
The period of patent protection, at least in the US, is 20 years, so all of this stuff eventually ends up as public domain. Right now, it being 2020, anything patented in the 20th Century is free to exploit for anyone.
These articles are a few years old now:
Soybeans: New Generic Roundup Ready Variety Offers Higher Yields
As Patents Expire, Farmers Plant Generic GMOs
In the long run 20 years just isn't all that much, IMO. Yes, in the meanwhile Monsanto made a lot of money, and I'm sure they still make money from these products even after the patents expire due to brand recognition and market presence, but the technology itself becomes available to all eventually.