Yes I think it is something like that, but why not let them answer themselves: In the Gnostic view, there is a true, ultimate and transcendent God, who is beyond all created universes and who never created anything in the sense in which the word “create” is ordinarily understood. While this True God did not fashion or create anything, He (or, It) “emanated” or brought forth from within Himself the substance of all there is in all the worlds, visible and invisible. In a certain sense, it may therefore be true to say that all is God, for all consists of the substance of God.

The thing is that this true god is as I understand it beyond consciousness in any form, it simply just is (nothing). As you say we cannot even describe it even if we tried to. Like this about the Tao (Dao): Tao denotes something that is both the source and the driving force behind everything that exists. It is ultimately ineffable: "The Tao that can be told is not the eternal Tao."