Exactly, SD is basically a pile of python scripts talking to Cuda via pytorch, it can be completely disconnected from the network and run via a commandline, sure, there are web frontends available for it, but there's bugger all web 3.0 about it.
It has "Democratization. Decentralization. Censorship-resistance". It's more web3 than crypto.
That's just using a wishy-washy slogan to take credit for other people's work. None of the technologies that associate themselves with web3 had anything to do with stable diffusion.
For SD, web3 has been worse than useless, because machine learning has been hindered by the miners hoarding GPUs.