If so, then this doesn't really promote much confidence in a product that appears to be a password manager. If they've addressed this issue, then that should probably be explicitly stated, although I understand the difficulties of that from a marketing perspective.
Maybe the reference to 256-bit encryption is a nod to this, with the expectation that those unfamiliar with the problems wouldn't be familiar with the differences between plain-text and encrypted storage?
Regardless, I think it's pretty promising that a browser is addressing this problem head-on, rather than leaving it to third-party companies to solve in a cross-platform way.
[0]: https://nakedsecurity.sophos.com/2018/03/20/nine-years-on-fi... (If you don't use a master password, which isn't required, I believe?)
[1]: https://www.wired.com/2016/08/browser-password-manager-proba...