I think it is. "I, Toaster" is a play off of "I, Pencil" attempting to show how the truth is, our positions in society are tenuous and because we have become unlikely to be capable of fending for ourselves, we are helpless.

This article, "I, Toaster", turns it back around and places the art piece parallel in meaning to "I, Pencil".

[There, fewer words.]

Whoah, you're right, I'm wrong --- I misread the first graf of the article, and thought "The Toaster Project" was actually called "I, Toaster".