I'm no Bible scholar either but you are spot on. I'm too lazy to reiterate my thoughts on this matter, so I just leave some links to articles where I elaborated on this topic:

https://senderspike.medium.com/advaita-of-jesus-christ-fcbde8a70a4f

https://senderspike.medium.com/the-covenant-304c097cfa6

https://senderspike.medium.com/the-covenant-notes-b7978b27e52b