Seems to be the most comforting theory out there!
I am a tentacle monster driving a meat suit. ?
More exactly, consciousness is an emergent property of biochemical / bioelectrical interactions in this physical substrate. The substrate is an essential ingredient, but does not by itself generate consciousness. In fact, according to people who talk about the concept of "embodied consciousness", it is not the nervous system by itself, but the body as a whole and its ways of interacting with its environment, that shapes our consciousness. People can't sustain the interactive sort of consciousness we're all familiar with, in a sensory deprivation chamber.
This is what makes consciousness seemingly elusive and mysterious and feels subjectively like it must have some esoteric je ne sais quoi to it, which so many ascribe to cosmic consciousness or god or some other woo-based explanation. But I am confident that a sufficiently complex and properly programmed computer will give rise to independent, self-learning consciousness ... however, early iterations of it are apt to be batshit crazy until, by trial and error, we find configurations that can perform useful interactions (useful to itself and/or to us). These configurations are apt to involve robotics in some form.