What does this code do

import is supported, with conditions.

depending on the platform, some modules are built into the VM. I’m not sure what is documented for V5, but for AIM it’s here.

V5 is based on an older version of micropython, I believe we have less included, however, it is possible to import from the SD Card. That doesn’t mean you will importing numpy without some additional (a lot of) effort to make it compatible.