The ineligibility argument of Vivek Ramaswamy is based on the status of his parents at the time he was born. However, Clause 5 makes no mention of anyone’s parents. The word isn’t even there.
Therefore, I find the argument unconvincing.
Side note: I wish the word was there. Having parents (or a parent) with a possible allegiance to another country is not a good thing. But the word isn’t there. It just isn’t.
It’s in the booklet that is given to people who are studying to take the citizenship test; at least it was in 2005-’06!