Yeah, that's exactly how it will be used.
Sarcasm aside, the word "endorse" has a very specific definition which basically guarantees how this system will be used, intentions or not. I think about every single grayed-out comment I've seen, downvoted simply because it shared an opinion that made people feel uncomfortable but was nonetheless on-point, and now realize that we'll never even see those comments.
Real bummer for those inheriting HN to get it after this bad decision has been made. Will probably represent the end of useful dissent on HN.