Consider the first sentence in [temp.res#general-5]

A qualified-id whose terminal name is dependent and that is in a type-only context is considered to denote a type.

How about the otherwise case? if the terminal name is not in a type-only context, whether it may denote a type or it definitely does not denote a type? It's difficult to infer the meaning of the otherwise cases from the current sentence.

Is it more clear if we change it to that

A qualified-id whose terminal name is dependent is considered to denote a type if and only if its terminal name is in a type-only context.

In this sentence, the subtext means the qualified-id can never denote a type if the dependent terminal name is not in a type-only context. This subtext also conforms to the intent of the standard.