This still doesn't make any sense. Permissive licenses are designed to allow code to be relicensed freely, hence the term "permissive." There may be a few catches, like having to include attribution or a copy of the old license, but if those were significant, the code wouldn't be open source.

How could that interpretation be compatible with the fact that if the author and copyright holder relicenses the code, you can ignore them if "you got it from someone who legally obtained it back when it had the old license." LGPL projects are "someone."

> So, if the code is not relicensed, you can theoretically download a bundle that claims it's AGPLv3, select the portions that are licensed under Apache, and incorporate those into your proprietary product without providing any access to your sources, and be legally in the clear.

Very theoretically. It's very unlikely that the Apache code will sit in the AGPL project forever unmixed with new, AGPL'd, code. Since the new code is not under a permissive license, it can't be relicensed to Apache.