Even if the library doesn’t change, doesn’t the possibility of the list of “bad” hashes changing exist? I.e., in your example, a new hash is added to by Apple

Even if the library doesn’t change, doesn’t the possibility of the list of “bad” hashes changing exist? I.e., in your example, a new hash is added to by Apple to the list at 11:30am, and then checked against your unchanged library.