For follow-up discussion and general commentary on the topic. Comments are sorted chronologically.
If it is true that most people today will be relegated to hell forever, why create humans in the first place?
There is an interesting reading in 1 Peter 4:6. The Good News was preached by Jesus, several millennia ago to the sinners during Noah's time so that even they may have eternal life.
Was my interpretation correct?
No!
Look at all the people that die and have never heard about Christ. I cannot see God punishing people that never heard about him. If everyone who dies doesn't have a second chance, then God would not be the loving Father we are all told and the Bible would be false, andI know it is not false. I can not see Him giving some people a second chance and others not.