Yes, from the errors it looks like the module went through a migration path that skipped direct compatibility with your current setup.
What is happening is roughly this:
1.0.0compatible with Mendix 10.24.x2.0.0currently marked for Mendix 119.24.12Because of that, Mendix is asking for an intermediate upgrade path:
9.24.12 -> 10.21.x - 10.24.x -> 11.x
Mendix generally does not allow:
So your understanding is mostly correct:
if the publisher did not release a proper Mendix 10-compatible intermediate version, upgrading becomes difficult/impossible directly.
What I would recommend:
The confusing part here is that Marketplace compatibility metadata and the actual internal model version of the package are slightly mismatched.
Kindly mark this as the accepted answer if it helps.