There's a bios option to swap them, and custom firmwares doing the same for the thinkpad bluetooth keyboard

Ah awesome!

That is the correct one. FN first, ctrl next. See DEC, and IBM.

Personally, I like it as it is, but I can understand someone preferring the control key in the bottom left (though I would suggest using Caps as Control, in which case having Fn on the easier to reach spot and therefore first would still make more sense)