No, I get it, I just don't understand why they wouldn't allow it to go slower. It's max voltage is close to 6 watts. In the first scope image shown you can see the duty cycle is close to 50% meaning it's on half the time and off the other half. But you can lower the duty cycle below that. If for example you set a duty cycle of 25% that would put you close to 1.5V.. doing so you can go all the way down to 0V. You see what I'm saying? That's the beauty of pwm. As far as mean versus rms, that's just a difference of how you calculate the duty cycle based on the voltage you want.
Maybe the need for tiny boards and the availability of application specific micro chip circuits satisfies the specs for building a variable supply in the space allowed. It's pretty neat that all this magic can exist in something you can hide in your hand.
You could use a single PWM PS in a desktop supply to do what buck-boost converters do, but could you fit it into a square inch and output those voltages at 20W or more from a single LiMn battery source?