Having those controls under the art of a different album is really counterintuitive, but you're right, they do apply to the current album instead (although there's no label indicating that). But it's just play/pause/skip.
And yes you can double-swipe upward (once to show the control center tab, and again to pull the tab up) and get the controls via control center, but you still can't go back to the artist, different album, etc. The words naming the artist and album are actually a link, but all they do is dismiss the control center and return you to the wall... they don't take you to that ablum or artist, they don't even take you to that album on the wall.
I think the wall of albums is far less useful than having actual controls, and it's not intuitive at all to have totally different (and crippled) functionality in landscape mode.