Exactly. Some analytics programs go by whether they viewed a single page, some go by visits that viewed page(s) and only stuck around for less than 3 to 5 seconds. Most, if not all, analytics programs measure "time on site", so it's theoretically possible to segment out the groups that only viewed a single page and spent only a few seconds on the site, it's just inconvenient to set up if that's not the default.

In Kaushik's book, Web Analytics an Hour a Day, he defines bounce rate as "The percent of traffic that stayed on your website for fewer than 10 seconds." So that's probably why he's so keen on bounce rate, using his definition you avoid some of the issues listed in that article.