You're correct. I was thinking of my own GD names I let expire but forgot an entire (and tedious) process of expired auction, and closeouts (if no bidder in expired).
Godaddy's paid backorder service has zero chance competing with other b.o. outfits.
The way I see it, now that the domain is in Redemption period, only the current registrant can renew the name (unless the period of eligibility has passed). The...