Is my understanding incorrect?
I guess there's the argument that transpiled, minified javascript program is a compiled binary? I'd love to know whether these things have been tested in various courts.
That's the context where LGPL is used most often, but the license itself is more general than that. In particular 4/d/0 in [1].
AFAIK, LGPL is about replaceability. If you distribute a compiled program (yes, a minified JS program should qualify) then you need to distribute the source of the LGPL part and document a way how the user can replace that LGPL part in your program with their own modified copy.
The AGPL doesn't really require this though. It requires the source code to be distributed to users, it does not require anyone to contribute those modifications back.
People are trying to have their cake and eat it too with open-source DBs (and it's mostly DBs). Historically, OSS was either for anyone for anything, or it was a viral license trying to build a GNU ecosystem. The DBs playing licensing games have been using OSS as a growth hack, they doing a bait-and-switch once they're popular.
At least starting with the AGPL up-front is honest, but considering the client-server nature of this DB, it makes it a non-starter for me.