True to a point - HOWEVER...the step-parent CAN petition the courts for custody of the child. Especially if the step-parent has been the primary parental influence (compared to surviving bio-parent) in the childs life -- this would depend on several factors such as time they have been parenting the child with the CP, bond .. or lack there of .. between NCP and the child (ie if the other parent hadn't seen child in X years or paid support etc it is likely step-parent could prevail!).
These issues are a case-by-case basis and have a lot to do with the judge you end up with, so the only way to really know would be to wait and see if the time ever comes to pass (and pray it doesn't). It would be advantageous to the step-parent to have the support of the deceased parent's family -- they would be good witnesses if it went to court as they can testify to the relationship the step-parent and child share and to the relationship the child and the surviving bio-parent share...or don't as the case may be!
The step-parent needs to have a set plan of action - including the name of a good family law attorney, preferrably w/experience in this, for what to do if the unfortunate does happen.
Good luck and God Bless