You may be over-thinking it. That bit in the Introduction says that non-compliant installations do not have to be upgraded. It does not say that existing installations that have been installed in accordance with earlier editions of the regulations are deemed to comply with this edition if they are not unsafe for continued use.
What has yet to be determined by a court ruling is whether the law requiring that "electrical safety standards are met" means that an existing installation has to comply with every aspect of BS 7671:2018 or only some, and if the latter, which.
A consensus seems to have emerged that it must have no non-compliances coded as C1 or C2. Superficially reasonable, if we think it reasonable to enshrine in law the can of worms which is the significantly indeterminate nature of many C2-or-C3 decisions ¹ .
But, and this is where you may be under-thinking it, there is no basis in fact for any determination based on C1/C2/C3. None whatsoever.
The lawmakers have done a truly abysmal job. Leaving aside the is-it-a-C2-or-a-C3 issue, they could have required landlords to have an EICR carried out which complied with the current edition of the Wiring Regulations (i.e. the carrying out of the EICR had to be in accordance, not the installation) and that any C1 or C2 conditions be rectified within x days and a new EICR done.
But they didn't. What they did was unbelievable, really. (Or is it, sadly, all too believable?)
They required that private landlords must ensure that the electrical safety standards are met during any period when the residential premises are occupied under a specified tenancy.
And they defined "electrical safety standards" as "the standards for electrical installations in the eighteenth edition of the Wiring Regulations, published by the Institution of Engineering and Technology and the British Standards Institution as BS 7671: 2018".
QUOTE]
From the Gov guidance document @timhoward linked to above, section 8: