From this article:
In January the president asked for $5.7 billion to build "a steel barrier for the Southwest border," but Congress approved only $1.375 billion. In February, Trump declared a national emergency and ordered that money for Pentagon construction projects would be used instead for the wall.
Federal District Court Judge David Briones said the president's order violated a provision of the budget law approved by Congress which said "none of the funds made available in this or any other appropriation may be used to increase" the funding for the wall project.
So we're still talking about redirected Pentagon funds.
My take is that the only way that previous ruling doesn't apply now, is if this case is siting different grounds for a violation, which the SCOTUS could then agree with.
The budget law cannot overrule the emergency act.
Earlier case was based on environmental concerns. That one was tossed, the injunction lifted, building started.
This one uses different grounds, but no injunction, building continues. Will be appealed to the (mostly friendly) 5th-—but building continues.