Yes that's correct. The steel bracelet makes it inaccurate, because the genuine comes in the CF strap.
At the time I was looking, I only saw the leather strap with red stitching, which in my opinion looked horrible.
I know what the genuine looks like, it's actually leather made to look like carbon fiber. I'm not sure what these newer replicas are made of, but I'm assuming it's not leather for that CF strap. It looks, however, a lot closer to the genuine, but I also like the look of the SS bracelet because it gives it a more elegant look. I suppose you could say that it's like a fantasy watch.