Yes, that is exactly what it is saying. God was expounding upon the concept of election and that certain individuals - those chosen by Him - that they would become saved.
You stopped reading too soon. Salvation is not offered to all. Look at the "us" and "we" below. Those who become saints, by election, they, and they alone, become/became those saved.
[Eph 1:1, 3- 7 KJV]
1 Paul, an apostle of Jesus Christ by the will of God, to the saints which are at Ephesus, and to the faithful in Christ Jesus: ...
3 Blessed [be] the God and Father of our Lord Jesus Christ, who hath blessed us with all spiritual blessings in heavenly [places] in Christ:
4 According as he hath chosen us in him before the foundation of the world, that we should be holy and without blame before him in love:
5 Having predestinated us unto the adoption of children by Jesus Christ to himself, according to the good pleasure of his will,
6 To the praise of the glory of his grace, wherein he hath made us accepted in the beloved.
7 In whom we have redemption through his blood, the forgiveness of sins, according to the riches of his grace;
If God chooses who will be saved, and not saved in the beginning then how is His kingdom true love, and He is not evil to condemn people who have no choice but to reject the truth for they can see no other alternative.
You can program your computer to say I love you, but does your computer really love you, and you can program your computer to say I hate you, and will you be mad and smash your computer.
If we do not have a choice then we are robots that are programmed to accept, or reject the truth.
Also why would God be mad at the people that reject the truth if they have no choice, and why would He allow them to be born if they will be punished for they will reject the truth.
It goes against the nature of God.
If people are chosen to be saved in the beginning without their choice then why did God create the earth for what is the purpose of the earth seeing they are saved from the beginning, and have a robot mentality.
The earth serves no purpose with that circumstance, and all the suffering, and problems, and disappointments associated with earth did not have to happen for they are saved from the beginning, and will choose the truth without fail.
So what is the purpose of the earth if they are saved from the beginning.
1Ti 2:3 For this is good and acceptable in the sight of God our Saviour;
1Ti 2:4 Who will have all men to be saved, and to come unto the knowledge of the truth.
2Pe 3:9 The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance.
Rev 22:17 And the Spirit and the bride say, Come. And let him that heareth say, Come. And let him that is athirst come. And whosoever will, let him take the water of life freely.
God said He wants all people to be saved, and does not want any person to perish.
So how did God choose who will be saved in the beginning, and the rest cannot be saved if He wants all people to be saved.
Rom 4:17 (As it is written, I have made thee a father of many nations,) before him whom he believed, even God, who quickeneth the dead, and calleth those things which be not as though they were.
God calls things that have not happened yet, as though they already happened, for if it is a plan of God to happen in the future it is the same as if it happened in the past for it will surely come to pass with no hindrance.
Rev 13:8 And all that dwell upon the earth shall worship him, whose names are not written in the book of life of the Lamb slain from the foundation of the world.
Luk 11:50 That the blood of all the prophets, which was shed from the foundation of the world, may be required of this generation.
Mat 25:34 Then shall the King say unto them on his right hand, Come, ye blessed of my Father, inherit the kingdom prepared for you from the foundation of the world.
These were future events but were considered happening from the foundation of the world for God calls things that have not happened yet, as though they already happened.
Predestination means that God already had the plan of salvation in the beginning to give to mankind salvation in the future, so it is the same as if they have salvation in the beginning, and this salvation is to whoever wants this salvation which the Spirit and bride say Come, and anybody can have that salvation.
So all of Christianity should be saying that but many do not.
Mat 22:13 Then said the king to the servants, Bind him hand and foot, and take him away, and cast him into outer darkness; there shall be weeping and gnashing of teeth.
Mat 22:14 For many are called, but few are chosen.
If many are called, but few are chosen, and God chooses who will saved, and not saved, then why is He calling people that cannot be saved.
For if He chose in the beginning then He would only call people that are chosen, and He would not call people that are not chosen in the beginning to be saved.
1Co 1:26 For ye see your calling, brethren, how that not many wise men after the flesh, not many mighty, not many noble, are called.
Not too many people are called in these positions for their heart condition is not right in their love for people, and their behavior, for they love power and control, and to exalt themselves highly.
Rom 11:29 For the gifts and calling of God are without repentance.
The calling of God is without repentance on His part.
God chose us we did not choose Him.
No person comes to the Son unless the Father draws them.
When God calls a person according to their heart condition He will work in their life to get them to the truth, and when they get to the door of truth they have to choose to enter for His kingdom is true love, but they would of not got to the door of truth unless God intervened in their life for the flesh will reject the truth for the Spirit and flesh are contrary to each other.
And this truth is to acknowledge God, and Jesus as Lord and Savior, and allow the Spirit to lead you to be Christlike.
2Ti 3:4 lovers of pleasures more than lovers of God;
2Ti 3:5 Having a form of godliness, but denying the power thereof: from such turn away.
2Ti 3:7 Ever learning, and never able to come to the knowledge of the truth.
Which not all people allow the Spirit to lead them to be Christlike.
Which those led of the Spirit might sin but they will repent of the sin, and keep moving forward in the Spirit, but those not led of the Spirit will hold on to sin believing they are right with God, which they do not come to the truth, and they are lovers of pleasures more than lovers of God.