Actually it is a refutation.
No "as though" about it. It clarifies the silliness of the 78% increase BS. A 78% increase of a 0.02% incidence is meaningless.
No it is not a refutation at all.
If 2% of 10,000,000 live births are abnormal that would be
200,000 babies a 78% increase would be 356,000 or an additional 156,000 babies. This is a big difference.
A 78% increase in a rate of return on an investment is a gigantic difference.