Okay Sherlock, that's a pretty heavy assumption. Alternatives could be that the older card wasn't needed to be used as much or that the newer card was not in a protected slot like the older card was. Then there are the physical details that lend itself to the bottom being newer, mainly that the card design on the bottom was the last design that University of Waterloo used before upgrading to their card in 2021. In 2017 they had their 60th anniversary and changed the cards. The 60 year logo stayed on the cards until they updated them.
Reality suggests what personal experience does for many Engineering grads and college students. Shit gets rough.