Yeah, correct. But what if some Absolute's employee turns out to be dishonest? A non-removable process, not detected by most antiviruses, that listens to the commands from the Net... Seems like a botnet to me.
When we asked this question in the context of the laptops at the big enterprise that I worked for, the response from Absolute was "most of our employees are ex-cops, so that isn't a problem".