Correct. The VP Nomination is done online, quick and easy as was stated above. The VP staff simply forwards a list of all candidates who applied for the VP nom to each academy. The VP nomination has the same restrictions as any other MOC. There are only 5 total slots for the VP at each academy. It is used as a last-resort backup for a nomination if an academy really wants a candidate who otherwise has no other nomination. It would be foolish not to apply, and then be that one person who needed it.
Stealth_81