Yes, that is how it's set up. The spring bar still goes through the piece with the notch though so all you'd accomplish by removing the center piece is just a gap in the middle of it - the areas right above the screw holes still fit flush to the case.
Using Pepe's photo as an example as it's from a better angle -
The red box is what would be removed, but the spring bar loops through the first link of the bracelet via the "main body" of the end link, at the red arrows. So you're still stuck with the notch :/