Yeah, I think you are right.If both qdev and 2 hosts are off, your cluster will have no quorum (Expected=5, votes=2). Your sentence should be more like "If the quorum device fails, there is no harm done, as long as at least three of the four real nodes are online."
Besides Proxmox quorum, you should keep in mind Ceph quorum: if two of your three monitors are down, all i/o is paused. Also, if not enough OSD are available to honor your min_size (typically 2), i/o will be halted too.
But then it doesn't work the way it needs to. I want one of the three 24/7 nodes to be allowed to fail (or go down for maintenance) and the cluster continue to work.
Maybe UdoB's idea could be the solution. Have to think that through.