Personally, I think it's too early to tell. They've detected a gas - phosphine, or PH3 - which only exists naturally on Earth as a result of biological processes, but "nature" on Venus is radically different from Earth-normal conditions and is still poorly understood. Phosphorus on Earth ready forms phosphate, due to the abundance of oxygen. With all the oxygen on Venus bound up as carbon dioxide and a reducing atmosphere at the surface, I suspect what we're really seeing is phosphorus-bearing minerals being weathered on the surface or emitted by volcanoes, forming phosphine by some mechanism that's difficult to predict or observe on Earth because of the difficulty in recreating Venusian surface conditions.
If the postulated cloud bugs exist, they've got to be getting that phosphine from somewhere. As far as I can tell, they've never found phosphorus in the atmosphere of Venus in any form other than phosphine. The cloud bugs can't be creating the phosphorus ex nihilo, they've got to get it from some other form, perhaps aerosolized elemental phosphorus blasted into the atmosphere by volcanoes. But if they want to prove it's Venusian cloud bugs metabolizing phosphorus and exhaling the phosphine, they'd better hurry up, build and launch that Venusian robot airship they've been talking about for ages, and actually catch some of those bugs.