This is a very cool finding, but I'm definitely skeptical it means there's life on Venus. As I see it, there are four hurdles to overcome before even tentatively reaching that conclusion:
1. Is the signal real? It's a difficult measurement to make. They looked at emissions from a deep, dense, opaque part of Venus' atmosphere and then analyzed patterns of absorption in that emission. Doing that requires modeling a layer of the Venus atmosphere and then subtracting that model from the data to see what's left. But Venus is notoriously understudied and difficult to study, so there's definitely room for error in there.
2. Is the signal phosphine? Again, seeing through the atmosphere of Venus is hard, so it's difficult to conclude the absorption line is definitively phosphine as opposed to either (a) a chemical with a nearby spectral line or (b) something entirely unaccounted for in the atmosphere.
3. Does phosphine mean life? Phosphine exists elsewhere in the solar system (in gas giants) for entirely abiotic reasons. It's thought to be unlikely near the surface of a rocky world because it's hard to get phosphorus up into the atmosphere and because phosphine itself shouldn't last long in that kind of environment. So it's known that life can produce enough phosphine to balance out how quickly it's gotten rid of, but there's not yet a known mechanism from via geological or other processes for doing so.
4. Is life on Venus plausible? I think your prior on this has to be low just on the basis of what we know about life on Earth. There's life everywhere on our planet, even in very harsh conditions, but we don't know that life can originate under such conditions. And Venus is a really terrible place. So this is a "extraordinary claims require extraordinary evidence" kinda thing.