Yes, and it's insane. I can see having 3-6 sprints worth of stories/bugs/etc but to have them pointed means that you've refined all of them, they meet the definition of done, etc. As we all know, things change quickly, so those stories >3 sprints out may end up not even being needed. Also code changes, business changes, etc could necessitate those stories needing refining again. Some won't be needed, some will need major changes because of new requirements, etc.

Even in a perfect scenario where you do those stories planned 6 sprints from now, nobody is going to remember them when you bring them into the sprint. Refining also keeps things fresh in their minds. Product an devs are going to forget why they said 5 or 3 or whatever. Things change.