True only so far as you've balanced your loads across all three phases. With balanced loading you can use the full capacity of the transformer, and don't need a neutral connection.
Not sure what you mean by 1.7x amperage rating, however.
Imagine the extreme unbalanced case and you will see the problem if your loads are not balanced. If you have no other loads, what is the maximum single 208V single phase load you can connect to this transformer? (Hint: it is less than 2/3 the capacity of the transformer even though you have 2 of 3 phases connected.)
Since you describe a large transformer with 208V load_s_ connected via panels, I expect that your installation will be reasonably balanced; but just wanted you aware of the approximation inherent to your question and my answer.
-Jon