I've got a Squier VM Jazz Bass that is in a bit of a sorry state. all three pots, the jack and one of the pickups are wrecked. To save time I bought a prewired control assembly from Axesrus. It looks like this:

Looking at it, I'm sure this won't work and they're wiring these up wrong. It doesn't match any diagram I've found anywhere else and to the best of my knowledge it doesn't even make any sense. The grounding is meant to be done other than the pickups and the bridge but there's nothing actually connecting each ground.
The biggest problem though is the tone control. The capacitor is soldered to the middle tab of the pot and goes to the outside tab of the jack, the hot output. The tab the capacitor is meant to be on in all the diagrams is just soldered directly to the base of the pot. So the tone capacitor is on the hot output all the time and the way I see it it can't possibly work as a tone control, it will be as if the tone control is constantly set as low as possible.

At least that is how I understand it, with my limited knowledge gleamed form the SD wiring diagrams such as this one for standard Jazz Bass wiring.

I don't think mine is a freak one-off mistake either since the one in the Axesrus picture (above) looks to be wired exactly the same way.

Is this indeed wired wrongly, will I need to re-wire this or is it going to work and I'm just being a naive moron?