It's a crude analogy, but I would say the hindbrain is more like the system management co-processor or controller that tends to low-level hardware features.

The forebrain is the main processor. It does all the stuff you think of from OS to application, and has some ability to monitor and even interfere in the system management co-processor.

Whether either of these things have interesting internal structure and functional decomposition is left unaddressed. This observation about the progenitor cells is a bit like seeing the BOM that says they come from different suppliers.

I think it's also a bit of guesswork to try to reason out the evolutionary history. I.e. was either unit "in the market" longer and useful on its own, versus essentially complementary parts that just happen to have a divided supply chain! Intuition about evolutionary processes and life makes it really easy to assume the hindbrain is an older, legacy system that existed independently or with other long-lost companion units.

Maybe more like the baseband modem in a phone?

I think more like file explorer!