In that, you would be wrong. Although the print was commercially printed, Seb Lester hand-lettered the print before having it professionally printed. If you look through his photostream, which I linked to in another thread, you will see several pictures in which he was practicing the design for the print. You will also notice that he changed the design and practiced the flourishes multiple times before he came up with a finished product. It only takes one look through his online album to realize that the guy is a talented calligrapher, and I believe the print is the result of considerable ability with the pen AND some computer skill, rather than one or the other.
Ken and I actually discussed this calligrapher once. While he did write it, he smoothed all of the lines in post, he added some flourishes in post, and he outlined it, converted it to vector format, and modified it as needed (like the little hollow point inside the letters) in post. The writing, while good, is only about 40% of the composition, and it has been very modified. It's still better than I can do, but it's not something I would consider 'hand lettered' in the true sense of the phrase.