It looks like “Zoom and scroll with trackpad, magic mouse and mouse wheel are now consistent with the macOS settings.” is still not working with Cubase 12.0.10
From what I gather, Steinberg does not intend for this to mean you can pinch to zoom on Mac, unfortunately.
@Matthias_Quellmann replied to me in another thread when I asked about this, saying, “It’s just about the direction of the gesture and the zoom direction.”
This is literally the sole reason I do not use Cubase. Lack of such a basic UI feature makes Cubase feel broken compared with not only Logic, but also Ableton, Studio One, and I suspect other DAWs. I use pinch to zoom every few seconds in DAWs; not having it isn’t an option.