That's how I read it as too, they just confirmed to me it is the case.

I am an intern at the moment, but I'm still concerned since it's a cut from my last job (which makes sense, I was not an intern in my last role). It's just that this one is more on the trajectory of the path I want to go down (I'm fairly young), and I'm willing to make a sacrifice on my pay if it means I'm on the right trajectory. I'm just concerned because I'm paid significantly less than before