You are correct. I describe AutoCad LT as either "Fisher Price" AutoCAD, or AutoCAD without the useful stuff. Most people that use AutoCAD might as well be using Etch-A-Sketch...
I know... I had a hard time once trying to explain that the newer LT version was completely worthless to me because I needed the AutoLisp from the real version and that the "upgrade" gave me no useful features and merely made it impossible to automate anything.
Sure, I could construct everything by hand, but that's pretty unreasonable when I'm redoing the same basic shapes all day.