The second part of the sentence is a bit unclear if its about that the origin will be placed at 3d cursor or
the snap tool - which could also be added here.

I would add some additional inline links:
Pivot point: :doc:`/editors/3dview/object/editing/transform/control/pivot_point/index`

Afaik is the 3D cursor not used by modifiers (instead empties are used).
The use case as placeholder shouldn't be recommended (one click and it's lost).

there's a space missing between pivot point and < ,
else it's okay.

if you want you can extend it by:

adding back a mention of its use for modeling tools.

used by the Snap tool: https://docs.blender.org/manual/en/dev/editors/3dview/object/editing/transform/control/snap.html#snap-menu

Unless there are any other modeling tools you'd like to highlight in particular, I think this is a reasonable description of the use of the 3d Cursor.