It certainly doesn't pass WCAG guidelines at a contrast ratio of 2.07:1... (needs to be at least 4.5:1 for normal text and at least 3:1 for large text), but the guidelines do also say that logos - which it of course it is - aren't subject to the minimum contrast rules.
So as far as accessibility goes, if you regard that as a logo rather than text, it does meet all relevant standards. Through a loophole, yes, but it meets them.
It certainly doesn't pass WCAG guidelines at a contrast ratio of 2.07:1... (needs to be at least 4.5:1 for normal text and at least 3:1 for large text), but the guidelines do also say that logos - which it of course it is - aren't subject to the minimum contrast rules.
So as far as accessibility goes, if you regard that as a logo rather than text, it does meet all relevant standards. Through a loophole, yes, but it meets them.