It is false. Extremely easy to believe because it appeals to the senses, but still false. The camel and the needle’s eye is instructive here.
It is ‘Father Father Father’ and ‘grace grace grace’ which is true as far as it goes. However, they do not have the Sacramental presence of Christ - a vertical relationship, and so must substitute a horizontal relationship - fellowship.
Bible is substituted for Eucharist - a choice which Catholics need not make.
A little anecdote. A retired co-worker died. At his funeral, a CoG pastor lead the opening and closing prayer. As he sought out words, he dropped the Lord’s name 17 times in the opening prayer, and 19 times in the closing.
“Lord, we just ask…”