We don't know what "processing" an input signal means in terms of brain thinking, thoughts, and awareness in full sized brains. We absolutely have no idea what happens in comatose, or "brain-dead" brains, where full memories can be built despite a lack of what we think if as brain activity.

This is a group of 10,000 neurons, being fed an input, changing it and outputting something the reflects the input. Brains aren't computers, and there's possibly no such thing as "just transmitting".

The organoid is doing something. Is that doing something a thought? I certainly don't know but I'm not comfortable enough to say it's not.