No, I don't think so, 295x is a crazy high factor. The article says 260 people are involved, and let's generously say it took 20 years to write the software (the first mission was 10 years after the program started and it was around for a total of 40 years).

Dividing by 295 means a commercial team of the same size could have done it in less than a month. Or with a 10x smaller team, about 8 months. I don't think either of those are plausible.

As I skimmed that, the text wrapped at the hyphen in man-hours, and my brain autocompleted it to "295x fewer managers" - and it pretty much rings true...

without any knowledge of the other processes involved in space shuttle software development, I highly doubt that the correlation is that easy