Yup, the translation is correct.
I won't judge the balancing decsion going into it because I've not tested it in game and we don't know all the details of the other classes, but it makes me cautious. The reason why the pack of the blade doesn't get multi attack and its charisma bonus on attacks is because its a caster and has the option of using edritch blasts which can be powered up independent of the choice of pact, so now you get Hexblade abilities on top of the actual subclass. It sounds a lot like other Larianism balancing decions... for them its a small change. Like turning shove into a bonus action...
