Basically, yeah. The bug is "considered" working as intended by google/nvidia, but is actually exploitable, and can potentially be used and fixed on the switch indirectly.
It was fixed on the Switch pretty directly as of 5.0.0, they knew what they were attacking and fixing with that firmware update.
This is why ktemkin thought it wasn't a big deal, Nintendo knew about this bug so there was nothing directly lost as far as she was aware or thought.
But its possible she outed a bigger flaw or an execution path indirectly without realizing it.