Yes, but the console is only available as a physical TTY. If you ssh to the machine, you'll still have a command prompt..
I understand it is a security risk, but I really can't see it being so other than the physical aspect, the account has, and will always have a password, and it remains updated for security issues thanks to yum.
In all honesty though, if someone has physical access to your machine, console or not, you need to make your time.