Yes but he didn't say reverse nepotism he said reverse nepobaby as it wasn't the parent getting the child a job but the other way round. It's still nepotism but nepobaby is a more specific term.
The vast majority of the time, nepotism refers to a patent giving their children special privileges due to the power the parent has.
The word itself comes from from the Italian word for "nephew", because of a trend of "nephews" of popes getting special privileges (often, these were the popes' illegitimate sons).
Cool. And the literal definition of nepotism is granting advantage, priviledge or friends to relatives or friends in an occupation or field. So it doesn't matter that it's being used for parent - children mostly when it covers all.