No, there is amibiguity because we don't understand how the game designers view the card. The wording is, sloppy. They could have easily worded it in such a way where this question was not there. So far they have not.
Are hull points capable of being a continuous effect? We don't know.
Without the designer's intent, without more precise wording, it is ambiguous.
I still think it goes away when Motti does. I think that's the logical read. But I also can see a mindset where that was not the intent and we will not know which way the designers go.
Because as is, it makes Motti a strange double edged sword.