It basically just says that NP is not the same as EXP

This is not a proof that NP != EXP. NP is poly time reduceable to 3SAT + 3SAT is sub-exponential does not imply that NP is sub-exponential -- the cost of the reduction may be enough to push the conjunction from sub-exponential to exponential.

Note https://news.ycombinator.com/item?id=50253213 which explains it better.