Delete from one list: Does that mean delete from all lists?

This new dialog box threw me, and I want to fully understand what it means. I periodically weed out bounced email addresses that are "Recommended for removal." 

I *think* the warning used to specify that the selected contacts would not be unsubbed from other lists if they are on more than one list. The new warning doesn't say that so I want to know if that means they will be removed from my contacts altogether. Of course, I guess if they are undeliverable I shouldn't want them on any list.

Advice? Thanks.