It does use elevation data, but does not exaggerate it, I guess. Back when I was working with 3D maps, we noticed that many people liked exaggerated terrain heights better, especially when the terrain is viewed from above and realistic heights looked “flat”. Near where I live it looks fairly close to what it does in real life: https://streets.gl/#48.50063,8.99766,7.25,312.50,135.56 (granted, having added building and roof colors for almost all buildings also helps).
While a good idea in general (the StreetComplete app makes this very easy, by the way), this won't help for this app, as the data is from September 2023. Otherwise I'd love to use it more to validate how renderers handle different buildings. F4Map should show the change fairly quickly, though.