If I understand you correctly, it is legally irrelevant that Obama is the president, only that he is a candidate in the upcoming election.
I’m not a lawyer but as I understand it, Yes, that’s true.
A candidate for an office has to meet the requirements for that office. The holder of that office is assumed to have met the requirements otherwise they wouldn’t hold it. (So the Federal Courts have told us.)
But when the holder of the office in question runs to keep on holding that office they can be both ‘PERSONAS’. That is the Candidate and the Office holder are not necessarily the same person. They can be but they do not HAVE to be.
And it is the Candidate for the Office of the President that is being asked to prove that they meet the legal requirements for the office. That is the SAME for ALL of the candidates. Each and every one of them must meet those requirements.