Yes, and the decision was quite recent and based upon information that does not apply only to the arthropod branch.
As mentioned, it very well could be a lobopod, but there’s nothing useful I can find one way or another that discounts an echinoderm angle, and there DOES at least seem to be a little support.
We don’t have much to go on with the little bugger to make a FIRM classification, but why discount an unexplored or only partially explored option?