For me, yes - I expect I'll need to be on some kind of medication for most of my life, though.
I was able to drop the levels on the meds I was taking, though, and I could drop one of them altogether.
A lot of it just depends on a bunch of factors that aren't fully understood.
The basic thinking is that over time, depression 'shrinks' the areas of the brain that it effects. TMS stimulates those areas, and that stimulation initiates cellular re-growth.
There's an outcome difference in people who are engaged in therapy, mindfulness practices, and self care for the duration of the treatment. The thinking is that you are supporting the development of the neural network by using it (neuroplasticity).
If it hadn't actually affected me the way it did, I'd be more skeptical and think that all the reported improvements are a result of doing 6 solid weeks of good self care. But, in my experience, it treated some symptoms that I had never had any success with prior to TMS.
There is research supporting that people can go into full remission from depression - but, they don't have any comorbid diagnoses.