No, it's not just you. When you "times" something it is multiplication, not division. The phrasing is a logical impossibility, where the reader has to guess the intent of the author - of which there are several interpretations. The key here is that this is a language "thing" only and certainly not a construct of logic or math.

In the headline of this page, it wouldn't have taken but a moment to write a phrasing that would be understandable to all readers of the page. It could read, "GPT-3 will be Two Thirds Less," or, "GPT-3 will cost One Third the Price."

This example from a non-native English speaker shows the difficulties of having several possible interpretations, at least three! [1]

[1] https://forum.wordreference.com/threads/%C2%ABx-times-less%C...