Pi is acceptable as a practical approximation in physical systems and an exact quantity irrational number in abstracted math. Pi might not occur in micro states of vacuum space except as the average of a probability distribution. In the scale we occupy Pi is robust and accepted, but in other scales of squeezed quantum states of super gravity and extreme high kinetic energy Pi might be subject to different interpretations.
"Is this the way to understand an EXACT subject like Mathematics?" -- Why is there a problem with the exactness of the polygon method? Even though, as you say, 3.1415926... is a "BORROWED number", it is always exactly clear up to which decimal place an approximative value, resulting from a polygon, corresponds to the true one. This is so because also the order of magnitude of the error made in a certain polygon approximation can be calculated (as was discussed by Peter Breuer under https://www.researchgate.net/post/Is_Pi_Constant_Indispensable_for_Circle and https://www.researchgate.net/post/Is_there_Any_Mathematical_Equation_Which_Chooses_the_True_Value_of_Pi_And_Rejecting_the_Polygon_Number_31415926).