MS Authenticator changes - plain English...

Have I understood this right.  

1. Passwords saved in Authenticator are no longer supported.  I know passkeys are still supported. 
2. If I want to keep them they have to be put into Edge or exported to another password manager by using the switch on Edge / export option in the app before 31/7
3. Currently I have some passwords stored in other places
4. If I do nothing before the cut off I'll have to dig out / remember / reset passwords for things in Authenticator as appropriate. 
5. Whatever I do won't impact anything already stored in an existing account (e.g. moving authenticator stuff to Edge wouldn't overwrite anything already there).  

Is that it?