Incorrect conclusion. Software can't fix a flawed antenna when it's shorted. Just because one frequency band still works, doesn't mean it can't affect the other frequency band. That's like saying you can take your radio antenna, and with the right software, pick up HD TV just as good as with a specialized HD TV antenna.
The difference between HDTV and radio frequency spectrums is a bit extreme, and it would be unlikely that Apple engineers would design an antenna which would exclusively process one frequency (of the 850, 1900) over the other. The 3G phone also had signal processing issues prior to its software fix.
Not to the extreme of what was mentioned above.Each frequency band has different characteristics.