Exactly! And you can even go to a maximum of 60 degrees conduction angle per half-cycle and still get a whole 3 times phase current on the Neutral (assuming all three phases are equally loaded with the same hi-tech load).
It's the thinking in real time that is a problem for a lot of folk, hence the introduction of Fourier analysis - but this has led to so much incorrect teaching. But lest you think I'm complaining, I'm not. It is this that keeps me in business sorting out issues others can't (tee-hee!). An example is "the 3rd circulating in the delta winding" - absolute rot! Sadly, I'm not prepared to publish my findings on this because there are institutes in the PQ fraternity with a little more clout than me busy plagiarizing my work left, right, and centre and calling it their own!
G5/4 is the primary driving force here in the UK to get power supplies to incorporate both PF and harmonic correction. The extra costs pays for itself in a very short space of time through electrical systems not failing through high harmonic content.
M.