Yes, that's right. My 3 year old daughter can read. Only small words with short vowel sounds, no tricky spellings, but STILL. She's READING.
I don't feel at all like we've pushed this skill on her, she WANTED to learn. All I did was supply the tools and be open to her requests to be taught. Basically, she regularly comes up to me and starts a conversation about phonics. Like, out of the blue, she'll spout out, "Cat starts with the letter C. What else starts with C, Mommy?" or "Sometimes G sounds like guh and sometimes it sounds like juh." or "Why does 'Daddy' have two d's in the middle?" or "How do you spell 'Ellowyn'?" And then of course these questions would be followed by long conversations about language and phonics.
Before bedtime and nap time, we always read two books as part of our going-to-sleep routine. I always let her choose whether she wants me to read to her or her to read to me, and she very often chooses to read to me. I think she genuinely enjoys it, which is so great and rewarding as a parent. I hope her love of reading will continue for the rest of her life!