Yes, but the task at hand would still be enormous. My own sense is the government doesn't want to go after the foreigners who've abused the company route to own the land their home sits upon - while the government has every right to do so, the huge sh*t storm and international publicity is not in the country's interest. They'd need a thousand staffers to weed though all of these. Then what? Kick thousands of foreigners out of Thailand after seizing their land and house? That's why I think they will investigate and uncover only illegal nominees part of the foreign 'owned' businesses - pizza joints, construction firms, vehicle rental firms, clothing distributors, etc., etc.
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