Yes, not only does this allow for multiple protocols, its reliance on BIP 21 URIs means it can reuse wallets’ existing multiple protocol logic!

BIP 21 today is usually implemented by providing a single URI with multiple payment protocols embedded in different query parameters. This takes advantage of that standard and uses a single record to express as many protocols as a recipient wants. It could be relaxed to allow multiple TXT records, but given there’s no need for it and it may cause ambiguity or indicate misconfiguration, it seems best to disallow.