Is ATEEZ Hongjoong dissing Bang Sihyuk in his new song?

https://x.com/yunhwagii/status/1879417112156156379 English translation

Korean media has also picked up on this, for those who are curious: https://m.entertain.naver.com/article/112/0003742086

"Hitman",
"bang",
"substandard old fart (kkondae)"

Hitman Bang is his producer name. Full English translation:

Note: The Genius translation seems to be lacking, please refer to this video! https://x.com/atzlovclub/status/1879422824919846945

Should I be mad?
Not at all fun
You're not worth it, you punk
Just childish fun
Why are you mad?
What do you know, hitman?
You have time to observe others?
Watch out for the back of your head
Du-du-du, bang
A life of jealousy and envy
Blind and senseless, mocking while throwing insults
Forever playing the guessing game
Skipping work when needed, only to blow up later
Oh dear, it’s hot, look at me fanning the flames
Even setting your home’s remains on fire
You are a substandard old fart
I know it's unfair
Yeah, yeah, that brand's muse is already me
Yeah, yeah, your keyboard makes me money
Fame, yeah, don't be too mad, I'm sorry
Yeah, yeah, there's no way

Original Korean:

Should I be mad?
하나도 없어 재미
나잇값해라 놈팽이
딱 도리도리 잼잼
Why are you mad?
뭐 된 줄 알아 hitman
남 관찰할 시간 있음
네 뒤통수나 조심해
Du-du-du, bang
시기 질투 인생
눈멀어 실명 거론하며 욕하는 꼬라지
눈치 게임 평생
일할 때 안 하고 뒤늦게 열만 계속 내지
아이고 더워 어째 네 집을 흔적까지 불 붙이는 내 부채질
수준 미달 꼰대
I know it's unfair

I didn't know they had beef like that, I know Kpop fans can't handle diss tracks but this is kinda funny. I wonder if it's in relation to HYBE's internal documents, otherwise I can't explain what they have going on