No. They are indefinitely renewable only if a GC application is pending. Otherwise, they expire after two terms i.e. six years.
I was on H-1B at a university where researcher appointments were nominally from July of year N to June of year N+2. But if you didn't start in July, your second appointment might be only 1 year, for some bureaucratic reasons. And you had to renew the H-1B for each appointment. I had five H-1Bs in total over ~7 years.