Huh, no it doesn't? Threads work fine when logged out on Bluesky (unless a post has been set by the author to logged-in users only, in which case it'll be hidden; this is fairly rare tho).
>>rsynno+(OP)
To add to that, this option only limits visibility on official Bluesky app/website. The data for this post is still available and third-party clients can make use of it. Hence what GP asks already exists: https://skyview.social/.