This is correct. Release The Gremlins is principally a multi-target artifact destruction card with the added gravy of also giving you token creatures. If the plan is to generate big mana and get a whole bunch of tokens, play Goblin Offensive or whatever instead.
Whether Release The Gremlins will be a useful and reliable maindeck choice or routinely a dead/underwhelming draw is entirely down to the metagame you're using it in. It seems like Commander should often provide plenty of targets, particularly since it's generally a multiplayer format. However, if the particular playgroup isn't big on artifacts then maybe not.