You wrote exactly so I'm going to say "no". To clarify what I mean: LoRA seeks to accomplish a similar goal as "vanilla" fine-tuning but with a different method (freezing existing model weights while adding adapter matrices that get added to the original). LoRA isn't exactly the same mathematically either; it is a low-rank approximation (as you know).
> LoRA doesn't add "isolated subnetworks"
If you think charitably, the author is right. LoRA weights are isolated in the sense that they are separate from the base model. See e.g. https://www.vellum.ai/blog/how-we-reduced-cost-of-a-fine-tun... "The end result is we now have a small adapter that can be added to the base model to achieve high performance on the target task. Swapping only the LoRA weights instead of all parameters allows cheaper switching between tasks. Multiple customized models can be created on one GPU and swapped in and out easily."
> you can merge your LoRA adapter into the original weights (by doing "W = W_{0} + ∆W") which most people do
Yes, one can do that. But on what basis do you say that "most people do"? Without having collected a sample of usage myself, I would just say this: there are many good reasons to not merge (e.g. see link above): less storage space if you have multiple adapters, easier to swap. On the other hand, if the extra adapter slows inference unacceptably, then don't.
> This highlights to me that the author doesn't know what they're talking about.
It seems to me you are being some combination of: uncharitable, overlooking another valid way of reading the text, being too quick to judge.