Yep, you're basically creating a new object each time.
In your example, you'd end up with two instances of the same object in the list, both containing the same data if you didn't do this. Change a property in any one of those objects, and the same property will change in the other one too.
In your example, you'd end up with two instances of the same object in the list, both containing the same data if you didn't do this. Change a property in any one of those objects, and the same property will change in the other one too.