Yes, this is the promise but in practice it is very tricky to get working. You are still dealing with low power EMF, both powering the chips and extracting data. Structure (like the containers the tags are in) can shield the signals. Race conditions mean that your reader can only interrogate a certain number of tags in a period of time. The orientation of the box matters a lot, as does its motion.
I worked for a company which did this and there was a lot of fiddling required to get every application working correctly.
