Yes - exactly. That black tape covering the rear part of the fins (airflow would exit out of the back of the card but its blocked by the tape). Functionally speaking, this only make sense if more airflow was needed over the VRMs and memory. This makes airflow restricted to three sides of the cooler and only empties into my case. On the other hand, if the tape was removed (similar to the original version of the cooler) airflow would exit out of the back of the card giving the fourth side of the card for warm air to escape (also outside of my case).
I may run some testing with the tape on and the tape removed and post to YT.
If anyone has some technical input on whether I should leave the tape or remove it please let me know. Thanks! =)