yes. you are right but that is starvation .Notice here Pj is sure that it is bounded to enter cs by only one process. there will not be infinite number of process before it that could enter cs.hence bounded waiting is satisfied as only one process could enter cs before it i.e Pi and the number of bound is known or limited.
since you felt about starvation then if you notice ,it is even prone to deadlock if both process are preempted after each of them executes till "turn = j " later when any of them come to WHILE .. it would be TRUE always and hence they continue doing no operation waiting indefinitely for an action which could be done by one another . BUT, anyway we are interested only to handle critical section here.