Yep, that's the gist of it. In order to change the license from the GPL, they'd need the permission of all of the copyright holders who've contributed code under the GPL to the project. After a few months have passed, this basically makes it impossible (or at least extremely difficult) since at least one person (and likely many people) will say no.
Just as a warning, this is licensed under the AGPL, with a CLA that requires copyright assignment. So, they could pull the rug at any time: