All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad, sallAllaahu ‘alayhi wa sallam, is His slave and Messenger.
However, the meaning is correct; the only criterion of superiority by which people are regarded as superior to others is piety. Ibn Taymiyyah said, “One may embrace Islam late but becomes a better Muslim than those who had embraced Islam before him. Like the case with ‘Umar; he embraced Islam at the age of forty while ‘Uthmaan ibn ‘Affaan, Talhah, Az-Zubayr, Sa‘ad, and ‘Abd Ar-Rahmaan ibn ‘Awf all embraced Islam at the hands of Abu Bakr before 'Umar, and the virtues of 'Umar outweigh theirs. . .” May Allaah be pleased with all the Companions.
Allaah Knows best.