My question is: if I were to take the neutral wire coming from the light out of the wire nut bundle and instead put it into the second hole next to B, would it be electrically the same? Or is there something I'm missing here.
For context, there's a second switch in the same gang box. The hot line wire comes into this switch, then out of the second hole into the line terminal of Light 2. Light 1's load hot wire comes into the load terminal. Light 1's load neutral wire plugs into the neutral terminal. The second hole on the neutral terminal goes to a wire nut where the power line's neutral, as well as the neutral for Light 2 are connected (possibly in the same way, I'm not sure. I'd have to pull them out again to be sure).