Is this sentence of Vitalik Buterin correct?

I was reading A Philosophy of Blockchain Validation of Vitalik Buterin. The following sentence strikes me as odd:

Data availability checks do rely on a very conservative assumption that there exists at least some small number of honest nodes somewhere in the network continues to apply, though the good news is that this minimum honesty threshold is low, and does not grow even if there is a very large number of attackers.

I would humbly restate the sentence in the following manner:

Data availability checks do rely on a very conservative assumption continuing to apply, namely that there exists at least some small number of honest nodes somewhere in the network, though the good news is that this minimum honesty threshold is low, and does not grow even if there is a very large number of attackers.

or would make it even more concise:

Data availability checks do rely on a very conservative assumption that there exists at least some small number of honest nodes somewhere in the network, though the good news is that this minimum honesty threshold is low, and does not grow even if there is a very large number of attackers.

Is Buterin’s sentence correct? If not, what is not correct in it? Do my attempts of correcting the sentence make sense to y’all?

P.S. This is not a proofreading request. The relevant text was published five weeks prior to this question.