Except, St. James did NOT write "you are not saved by faith alone" anywhere in Scripture. The context of James chapter 2 is all about demonstrating genuine faith to the world. God knows if our faith is real, people can only see it by what we do. You cannot cancel out all the dozens of OTHER Scripture passages that clearly teach we ARE justified by faith apart from our works by misusing ONE partial verse.
WRT the Eucharist,when Christ held up the bread,
And he took bread, gave thanks and broke it, and gave it to them, saying, "This is my body given for you; do this in remembrance of me." (Luke 22:19)
Do you really think the Apostles all knew he meant his body was bread? Or did they understand it was a metaphor? Did Jesus really NEED to explain it to them seeing as he was pre-crucifixion and standing whole right in front of them? Like the misquote of James, many Catholics presume much that is not Scriptural and they, in turn, lose the meaning of God's word.
The statement appears embedded in the question whether this is the understanding achieved by the reader:
Do you see that by works a man is justified; and not by faith only? ορατε τοινυν οτι εξ εργων δικαιουται ανθρωπος και ουκ εκ πιστεως μονον
James chapter 2 is all about demonstrating genuine faith to the world
No because it is not an isolated phrase: it is also repeated "faith without works is dead" and that is the conclusion of the chapter. Not "faith without works appears dead" or "looking from outside one cannot tell it it is dead", -- simply "dead". Not a saving faith.