I would say it replaces the premise actually, completing the retcon of the previous lore. It is more talking about how one element flows into the other and are all part of a cycle, not that they cycle and topple each other. This reinforces how things work mechanically right now. Using fire spells has no detriment when attacking, say Leviathan. The spells simply have different effects attached to them.
Jumping back a bit. The original question is whether or not one can use the teachings and paradigm of Conjury to pull of Thaumaturgy effects, from an IC standpoint. My answer to this remains, yes. There is ample evidence in lore and such to suggest that one does not need to use the teachings and paradigm of Conjury to pull off Conjury effects. Magical teachings all simply teach different methods of controlling and manipulating aether. I can see where those teachings would push a student toward using some elements over others, but not where they would flat out restrict the use of those elements by paradigm. Mechanically being a BLM, while ICly putting your effects in the paradigm of Conjury is hardly lore breaking.
Jumping back a bit. The original question is whether or not one can use the teachings and paradigm of Conjury to pull of Thaumaturgy effects, from an IC standpoint. My answer to this remains, yes. There is ample evidence in lore and such to suggest that one does not need to use the teachings and paradigm of Conjury to pull off Conjury effects. Magical teachings all simply teach different methods of controlling and manipulating aether. I can see where those teachings would push a student toward using some elements over others, but not where they would flat out restrict the use of those elements by paradigm. Mechanically being a BLM, while ICly putting your effects in the paradigm of Conjury is hardly lore breaking.