Basically, yes. The crucial figure of merit, though, is the magnetic energy product, usually given in megagauss-oersteds (MGOe), which sadly is missing from the abstract. This is the product of remanence, the field that remains in a material after being removed from a polarizing field (all permanent magnets have to be "initialized" by exposure to a strong field), and coercivity, which you explained.

Unfortunately, cobalt, while not a rare earth, is not really that much cheaper than neodymium (cf. battery woes). So the battle is still between L10-FeNi, Fe16N2, and MnAl, all of which are, unfortunately, very hard to produce from their constituent elements. The other material MnBi has been known for a while, but bismuth, like cobalt, is "not rare-earth but rare". A similar technique was used to discover Co3Mn2Ge:

https://www.sciencedirect.com/science/article/pii/S1359645421002937