"The absurd, then, is distinct from the terrestrial minimizations that characterize our conceptions which belong to the mundane lifeworld."

Yes, sort of, because "the terrestrial minimizations " are "the absurd." They grow out of it. Not as something fundamentally new -- they never really separate -- but as a new form of "the absurd." But frankly, calling the absolute as "the absurd" is pretty absurd in itself :D