Is Transactional ID still required for EOS after KIP-447?

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I'm reading KIP-447, but I'm not sure if I'm understanding this correctly.

It seems that the EOS apps using the latest transaction api no longer need to persist txn id between restarts (thus can be different in every restart), as transaction coordinator is now aware of partition assignment, and producer epoch gets bumped up by transaction coordinator when old transaction times out.

Am I missing something?

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