Ni. On one hand that's exactly what it means, yet the fact that a sizeable fraction of Italian speakers accepted a new lexeme in their heads means that it has a

Ni. On one hand that's exactly what it means, yet the fact that a sizeable fraction of Italian speakers accepted a new lexeme in their heads means that it has an extra expressive power, perhaps due the word play, that conveys an extra layer of meaning that would be lost if you just say "yes and no" (i.e. "si e no" or "no e si"). Funny enough, sometimes it's even hard to transate the untranslatability of something.