You understood it correctly. Named dimensions is certainly a good idea even in dynamic languages as a way of documentation and runtime errors that actually make sense (instead of stuff like "expected shape (24, 128, 32) but got (32, 128, 24)"). I hope it catches on.
But combined with static checking, it could be very very powerful. Definitely agree re: the power even in dynamic languages, I use namedtensor for almost all my personal development now (less so in work because of interop issues)
