You are correct. But please respect West Midlands community practice which is we don't tag CUS stops with highway=bus stop unless we've surveyed and found the CUS stop has been upgraded with a pole which can be surveyed. Physically present=no was a very early attempt at quality assurancec on the naptan data and has kind of just hung around. Perhaps we should tag CUS stops with the new public transport schema by placing a public_transport=stop_position node on the way adjacent to the naptan CUS node

Please don't unless you've surveyed the site and found a physical bus stop pole. The West Midands imported the Naptan data WITHOUT the bus stop tag so that we could survey the naptan data. We found naptan data is often wildly inaccurate. Locally we don't tag CUS with a bus stop tag. You might find some CUS stops are tagged with a bus stop tag- that's because the naptan data is now very old and in the meantime many CUS stops have been upgraded with a physical pole and can therefore be mapped by survey

This is a notation by NapTAN- the national database for bus stops which denotes it is a CUStomary stop i.e there is no physical bus stop present but the local drivers and passengers know that the bus stops there on request. We don't tag these as bus stops

OK by me. I've also changed the spur at the end of the road in question