I wonder if you could do something nasty with this bug from inside an IntelliJ plugin...
Of course it can and still will result in invalid states.
While of course they can't stop you from creating "invalid" states of your own types, whether through a data race or just bad coding - Java's own types should not have invalid states which can come into existence this way.
For example, suppose we've got a Goose type, and it can be Happy or Sad, and when it's Sad it has a Reason, when it is Happy there's no Reason. We, as Java, should not design this type so that it's possible for it to get flipped from Happy to Sad without choosing a Reason. As a result, after a race the Goose might be Happy when you expected Sad, or vice versa, but it can't enter the invalid state where it's Sad but for no Reason.