Yes they are rather startlingly frank words which don't jive at all with what the average RC says they believe about all those who don't follow their ways to the letter, including their version of the sacraments and being subject to the Pope. But SD will be on here soon giving you his usual spin on "development of doctrine".
Otherwise, it would imply that all of humanity was excluded from salvation before Christ came, and that much of humanity (which has not had the opportunity to hear the Christian message until recently) was doomed to be eternally separated from God
Most of the world has heard the gospel so this is moot..