This is correct. It is also irrelevant for it does nothing to prove that God DOES exist, and proof is the responsibility of whoever makes the claim. The theist, by claiming that God exists, must supply the evidence for that claim. Atheists are not claiming or asserting anything, and thus have only the burden of rebuttal. All logical arguments are based on an understanding of these burdens.
Existence is identification.
To prove that something exists, you must describe the object in question. This argument presumes that the universe was created, which obviously implies a creator, rather than being a formation from natural causes. What is worthy of note here is the simple fact that many theologians continue to spew forth these philosophical dinosaurs as if they were the latest theological findings. He is said to possess unlimited power and, according to the Bible, commands us to do certain things and behave in certain ways which by some strange coincidence are always beneficial to the ruling class. And right there is a strong indication that something is wrong.