Yes, you are missing something.

Regulated mods use pulsed currents to make higher voltages, called PWM (pulse width modulation). This requires the use of "high drain"
batteries. Are we really talking about Sony or the Panasonic NCR18650A or B batteries? The Panasonic 3100 or 3400 mAh batteries are not high drain batteries.
A little more detail; regulated mods use buck boost circuits to make higher voltage. The mod's processor output will not be the same as the battery output, right? (Battery output is 4.2 volts fully charged, but the processor output can be as high as 6 volts.)
The SID's processor uses PWM (pulse width modulation), or pulsed currents, to create that higher voltage. It does this by firing waves of current many times per second to the coil. These waves can be seen and measured on an ocelloscope.
Because the SID's regulator is a pulsing device (PWM), the
pulsed battery current can be a factor of
2X higher than the
average current. Let's say the average amp current set by the user is 4.5 amps; then the battery needs to supply pulsed currents of
over 9 amps. That's way over the NCR18650A/B's 6.8 amp limit.
This can be complicated to explain. The technical engineers at Provape (makers of the Provari) explained why a "high drain" battery is needed for regulated mods that use pulse regulators like the SID and Provari. Perhaps they explain it better than me. Here is the link to the explanation:
http://www.e-cigarette-forum.com/forum/provape/334831-technical-why-high-drain-batteries.html