"these would be non deductible (after tax) IRA contributions."

Okay. But you also stated the contribution made in 2022 wasn't converted until 2023. You did not state the contribution was made in 2023 for tax year 2022. So, either there is gain, loss, or neither. The market has gone crazy, and with any delay, that makes it more likely your taxpayer has gain. This is not Basis. This is taxable income, upon conversion.

"she has no IRA basis as of now"

A Full conversion is going to be pro rata. A Partial conversion is going to be pro rata.

The word "backdoor" is used to describe an immediate and instantaneous conversion of only basis with no other funds not being converted at that same event. And it's not just "IRA" but aggregated as Trad, SEP and SIMPLE IRA accounts.

Otherwise, all you have is a regular conversion.