It's incorrect. I've tried importing libraries (Re: Electrum appImage console) and run few command that could be dangerous such as eval() dan exac() successfully.
So it turns out that the console is a full-fledged Python shell.
Unfortunately even with this capability it is convoluted to get subscripted addresses and URLs, because you have to create the Notify class yourself. There is no instance created for you if you're using the GUI because it doesn't natively have this functionality, by not having a menu item for it.
>>> wallet
>>> wallet.network
>>> notifier = electrum.synchronizer.Notifier(wallet.network)
>>> notifier.start_watching_addr("bc1qux45c80493lu34n398m32ug63rajhtvyl99y05","http://example.com/subscribe")
>>> notifier.watched_addresses
defaultdict(
The other member, notifier._start_watching_queue doesn't even provide an easy way to view all the members. It's not some kind of list object that can be iterated through without popping items from the queue.