Yes, it kinda does. Context means things. When you put quotes around a singular word in this manner, you are signaling the reader that you don't have the proper words, so you are using this one as the concept is similar. The quotes take the place of inflection that cannot be communicated via text. In this context, "paywalled" means "hoops must be jumped through to access the site."
There is a lot more to communication than dictionary definitions.
Ambiguity is a "feature" of the English language.