Correct.
Vanity addresses are popular in bitcoin, but difficulty rises exponentially with each character. Most people don't want crunch random numbers for 6 months. The solution to 3rd party key generation is split keys.
Essentially the addition of keys to get the desired final key.
Generate key X, give X public address to cloud provider, they search for key Y so that X + Y == YourVanityAddress, when found they send you private Y. Private X + Y is your vanity private key.
Vanity address generated by 3rd party in a trustless environment.