Hi,
Yes, you described correctly the functionality of the circuit, when power its applied to the board, the PMIC will start without the need of pressing the ONOFF because by default PMIC ON REQ its PULLED UP TO SNVS on T9 of the I.Mx.
If ONOFF its pressed x seconds, the soc will tie PMIC EN_REQ to GND and pmic will turn off and after pressing again it will de-tie PMIQ ON REC from Ground AND PMIC will Start.
However, this is not cataloged as a design error, it is the way it was designed.
Have a great day,
Jose
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