The link styling is inconsistent with basically every other web page; underlines haven't been "everywhere" since the late 1990s (for better or worse), but distinguishing links has usually been done via the use of color, maybe some other border effect.
The style chosen by this particular web page comes across not as hyperlinks, but as a weird choice to randomly remove words and phrases from the main sentence matter, rendering them more difficult to read and comprehend, and worse, leaving the reader unaware this this choice actually denoted a link.
Using color alone to distinguish links is explicitly an accessibility violation. Underlines are not a requirement. I certainly agree that the link system here is atypical. It just isnt an accessibility violation.
The style chosen by this particular web page comes across not as hyperlinks, but as a weird choice to randomly remove words and phrases from the main sentence matter, rendering them more difficult to read and comprehend, and worse, leaving the reader unaware this this choice actually denoted a link.