It would seem so. My return window was about to end, so I pulled the trigger and returned my device. As was mentioned in the bugzilla thread, it actually is Realtek ALC3306 and Linux mis-identifies it.
If anyone else stumbles onto this post: Don’t buy this laptop unless you really really really want it and are 1000% sure you are okay without working audio on Linux, presumably forever. Audio on Linux can be complicated, so it’s better if you buy something that works properly today, and not base your decision/purchase on a possibility. Avoid Laptops with ALC3306, and other non-working audio devices/codecs/drivers/whatever! Search for your laptop model / sound driver online beforehand, or even on bugzilla.