No, you misunderstood that completely. They would still be like t-strings, but sql-strings are now a different type from html-strings. The escaping would be done by the library that offers the sql"..." functionality.
FWIW the JS equivalent is a template but tagged with a language. It has all the benefits of this template, but IDEs can easily syntax highlight the string. That seems like it would be a bit trickier to do with the Python one which is a shame.