If it materialized instead, yeah that sentence wouldn't apply the same way. But materializing with a default constructor opens up many cans of worms. I would say it has significantly more downsides than short circuiting. Also it should use a different operator.
Small additional point: if it used a different operator, what if that operator was used in an expression that is not the target of an assignment? Does that operator just become equivalent to ?, or does it do the materializing anyway even though it is not required in support of an assignment?
