True - though the gov white paper mentioned that it was, in effect, binding because ignoring its result would irreversibly damage representative democracy.
Even if the UK were somehow to backtrack: they broke any faith and goodwill on EU side (not the entire EU but key members).
Politically, the Tories have to rally Brexit - or they will get killed by UKIP in the next election run.
The box is open. At some point in 10-20 years, a new agreement will probably bring the UK back to most of its EU membership. Until then, there's no way back.