Do I understand this correctly when stating it as follows?
Yes; it's mostly correct.
1) The miner and node install instructions are needed so that the Orange Pi can be operated while the cable between Orange Pi and ASIC board is connected, and the Orange Pi is powered that way.
Exactly: what differentiates my guide from just installing generic Armbian, Bitcoind and Apollo-miner binaries is that the
GPIO setup lets you use the hashboard through the internal connection. Saving you an USB cable and a second power supply.
2) There are still software vulnerabilities involved when following the instructions.
No; there are no known software vulnerabilities when following my instructions!

Not sure how you came to such conclusion.
3) The Orange Pi 4 could be dis-connected from the ASIC board, turning it into a Standard Apollo with a Orange Pi in the same housing. With a dumb 5V power supply to the USB-C port, the Orange Pi 4 could be powered up and run Armbian OS
4) This is where it gets tricky, potentially: Can the 'separated' Orange Pi 4 be connected via USB to USB micro cable to the ASIC board in the same housing, or does that create some ground loop that could fry things?
5) If I get a new PSU to power the 'separated' ASIC board on 12V and the 'separated' Orange Pi on 5V: Would that 5V supply be 'dumb' enough to provide sufficient power to the separated Orange Pi? And would that put the separated ASIC board and Orange Pi on the same ground connection so that a ground loop is prevented?
Yes; if you skip the
GPIO setup, but follow all other steps, that's how you would operate the miner. Hashboard connected using a microUSB to USB-A cable, and a separate power supply for the Orange Pi 4.
This would definitely work and you don't have to worry about ground loops. It will just be a 'Standard Unit' controlled from an Orange Pi 4, that is conveniently sitting in the same enclosure. Electrically, there is no difference whether it sits inside or not.
I just don't see why you would want to do that, if using this
one simple step you can save around 50 bucks in cables and power supplies.

6) Can I then just install Bitcoin Core, Electrum, Electrs and a Lightning wallet and whatever else I want into the Armbian OS, keep it updated and secure, and run the 'separated' ASIC board by using the Apollo BTC Standard software in a terminal?
https://bt.irlbtc.com/view/5340015.msg57091051#msg570910517) And can I then also run additional Standard Apollo units (each in a separate terminal, connected to the same (new) PSU on 12V?
Yes, that's exactly what I've done in my guides.

I labeled each step with what software is installed and the build instructions are mainly taken from the original projects' GitHub pages & modified to run on Armbian. If you're going to do it all manually (without guide), you'll be doing basically the exact same stuff.
Yes, the
miner script in my guide supports external standard units, as well. Don't need separate terminals even; the script recognizes and starts up all of them!