It addresses the location of birth issue alone. It does not indicate that it applies to children born of American parent(s).
No, it deals with US citizen who give birth at US installation overseas that they are not covered under the 14th Amendment. As it is not automatic. They have to go to a US embassy or consulate to register the birth.
On the contrary, it disabuses morons who think McCain's case differs from Cruz's.
Some of the droolers believe McCain is different because he was supposedly was born on a US base (i.e., US territory). But if that were true, any Panamanian babies dropped on base would be automatic US citizens. Which is not the case. Therefore, the argument is shot down!
But the fact is, McCain is NBC because of his parentage, not the location of his birth.