Yeah, I studied the graphic for a little while trying to get “Pilate” out of it. I should have said the PI located at the 3 o’clock position. The IOTA looks a little messed up to me, also.
There is some kind of scratch mark next to the iota, it’s probably just damage of some sort.
I must have looked at the picture a dozen times before I figured out how to make sense out of it by going clockwise. And the article says the ring spells out “Pilatus” which added to the confusion.