Yes, it's true. BUT...
Over the next year or two it will produce one, two or three shoots from
the base. Each of these will grow into a plant that will flower for
you.
The original plant will gradually die. But by the time it is dead, you
will have plant(s) that have replaced it.
Aechmea fasciata is truly eye-catching when in flower. Even when it
doesn't have a flower, it is a beautiful plant. Grow it for its sheer
beauty. Count the flowers as an extra special bonus.
One web page is:
http://www.desert-tropicals.com/Plants/Bromeliaceae/Aechmea_fasciata.htm
l
Good luck
Cheers
Alex