They said sensitive information is encrypted and can't be accessed, my interpretation of that is that the plain text can't be accessed but attackers may have the encrypted sensitive information (eg passwords). Depending on the strength of their encryption though, and the key used etc etc.. it might be perfectly accessible. In the absense of transparency on actual encryption details, you're probably better off assuming the data is compromised than not.
"Depending on the strength of their encryption though, and the key used"
I trust that Apple is competent when it comes to encryption at this point. I agree that the statement was ambiguous as to whether the data was actually taken.
Hopefully, but from the comments this an old, hacky system based on old software with critical software vulnerabilities. I don't imagine their encryption reflects that, but until it's clarified it's probably better to assume it does.
