Yes, the back is completely exposed. I imagined that's done with a lot of early cases for Apple products, they will err on the side of caution, and not cover areas they aren't sure of the clearance. Later products made after companies have had a product for awhile, seem to cover more.
...
Remember the importance here for a few of us, is wanting a case, ANY case as soon as possible. When the selection of cases improves ( and probably costs more ), I'll be looking at other options. For now, this is my option, and it meets the needs I ask of it for now.