If you read the rest of the passage, it's talking about the elders in the church, who were the priests at the time, so, yes it does.
On another issue: Transsubstantiation.
I bet that you don't believe that the bread and wine literally become the body of Christ, do you?
If not, Catholics would argue that you're not being biblical when you interpret it metaphorically as Jesus said "Take, drink this IS my blood, shed for you" not, "Take, drink this wine, which symbolically represents my blood, which is given for you."