That's correct.

Bummer. Seems like the 5th gens got screwed on the transfer cases. I wonder if the VF4AM multi mode t-case from the 4th gen could be swapped in without much difficulty?

Is that really "getting screwed"? For all the effort Toyota went through on the part-time 4WD models to have an Automatic Differential Disconnect when 4WD isn't in use.... the full-time 4WD Limiteds get the same EPA fuel economy numbers, so RWD vs AWD/4WD on the 5gh gen doesn't seem to carry much of a fuel economy penalty....

If I had a Limited, I definitely wouldn't be bummed that I can't put it in 2WD. The only reason I'd want to is if I had to put a non-matching-diameter spare tire on in an emergency; if I had 2WD, I'd put it on the front axle and stay out of 4WD, and if I had full-time 4WD, I just wouldn't do it.

Yes, I really would say that is getting screwed. Going from the super capable multi mode t-case that the 3rd gens (VF3AM) and 4th gens (VF4AM) had, to what the 5th gens seem to have is a downgrade for sure. 4th gens seemed to have the best of it; 2wd (because not everyone wants to be in 4wd all the time, ever blasted around in 2wd w/ rear diff lock engaged?), 4wd w/ center diff unlocked for snowy icy conditions, 4wd w/ center diff locked aka true 4x4 (duh), and 4Lo with center diff either locked or unlocked. I know a lot of people won't care about 4Lo w/ center diff unlocked, except that it's pretty damn useful for when you're trying to reverse with a trailer pushing it up a steep driveway. I modified my 3rd gen to give me 2Lo and it's truly a game changer trying to negotiate the 90 degree turn reversing into my driveway and snaking my boat around the side of my house. Just makes it so much easier. Toyota should've at least given the ORP or whatever their supposedly highest capability trim level is the most capable t-case they could, but instead apparently elected to give it a downgrade from what 3rd and 4th gens had. So yeah, definitely got screwed for sure.