Yes that is correct and exactly why I was interested in installing a passive tone sub-circuit within the parallel circuit.
For example, if I filter all the but highs from the tail-bridge, all but the high-mids from the mid-bridge, all but the low-mids from the mid-neck, and all but the lows from the head-neck, It may make them cut through themselves interestingly.
As far as the actual wiring, I'm expecting the need of relays as I know of no existing switches that would facilitate this.
I would also be interested in fabricating my own hybrid switches (passing point/knife) similar to:
I'm confidant I could fabricate all but the two push/pull pots which would activate the parallel-tone sub-circuit and the effects sub-circuit.