In other words, the mechanism may be what consciousness is about, but we can't say anything useful about this as relates to consciousness.
Nitpick: off course we don't really lack a theory of consciousness. It's just that Alan Turing choose to ignore all the existing prior discourse in humanities and philosophy.
It would be quite interesting if/when someone tries that to see how close it is or isn't to nature.
I'm thinking of the first episode of Alex Garland minisery Devs, where a somewhat brilliant Russian guy demos predicting the exact movements of a bacteria. That would be proof that the model works. And even it it were to mispredict, most of the time, it sounds plausible.
I don't see it that way - it's more about awareness of sights sounds feelings thoughts and the like. I've got little idea what mechanism my brain uses and don't think it matters much.
It's like Descartes didn't say I think, therefore I may be but only if the thinking uses biological neurons.