No, you're not missing anything. This release streamlines the policy creation process by enabling users to initiate the policy creation process by creating policies for patch packages that have not already been downloaded from vendor sites, rather than requiring them to download the vendor packages and then go back into the console to create the policy after the packages have been downloaded.
This release does not contain functionality that automatically downloads and distributes software update packages based on pre-defined criteria, such as the relevant applications, operating systems and update severity levels. That is something that may be beneficial to small or medium sized organizations or in distributing updates to a test environment as part of a phased rollout, but is not something that would likely be used by large enterprise organizations to distribute updates to their production environment.