Yes it was cut - the metal lead had tool marks from being cut.
There are hooks that disolve in saltwater. The big thing many fisherman forget is THERE IS NO SALT WATER FLOWING IN THE STOMACH OF A SHARK.
This hook had torn up most of her throat and lodged itself in the top part of the stomach. There was no way it was in contact with salt water, and any hook taken this deep would completly lacerate the GI tract, causing these animals to bled out.
There were signs of clotting around the tip, which had punctured the stomach wall.