VentureX PC to VentureOne Potential Loophole in Travel Portal

I was about the PC my VX to VOne and noticed this clause:

• After the card change, rewards for returns of purchases will be deducted at the rewards rate for your new card.

So does that mean if I booked a hotel for $1000 with VX, got 10x in rewards, then had to cancel after PC to the VOne with 5x in rewards from the travel portal, that they would only take back 5,000 points? Has anyone tried/experienced this?