Yup, that is correct. I didn't want a seam on the fron face of the complete Super 7 speaker, it's better for the full blown S7 to have it behind where it is out of sight and not a PItA to deal with. Also eliminates the chance of it possibly showing up down the road in some gorgeous paint.
You could do exactly what you're saying if you don't mind having the seam, dealing with it, and having it possibly show in the future. Or, you could simply make it a reveal betweenthe bottom of the baffle and top of the H-frames with a small radius or bevel if you prefer.
One thing to remember is that there isn't a ton of room below the bottom Neo10 (rear side), I tried hard to keep the tweeter at lower height than the original S7's so space was utalized. I'm only using a 1" top plate onthe sub section... if you used a 1.5" top plate on your subs, there'll end up being .5" less that what you see in the model pics