Not to join the chorus of "that's not actually true" I do want to take a step further and say that's not even the way I'd recommend using puppet.
The puppet server gives you an alternate authentication method (SSL vs SSH is a toss-up imho), a fileserver (rsync is better), a "dumb client" model where clients are only given the files and configs they actually need, and a master server to process all the manifests and load them into memory, etc., which might under some circumstances (which I have never encountered) help performance. That's about it. If anyone else has other insights on the benefits of deploying a master I'd be happy to hear them.
If you don't need any of those things, you don't ever need to deploy a puppet server. You need ruby and its dependencies, you need facter and its dependencies, and possibly a couple of other libraries (ruby-augeas, etc.), most of which are built in to modern distributions. Ideally you will use revision control as soon as possible. Rsync your manifests and run the puppet client on them directly. That method scales up or down really well and is generally more flexible (see the comment below about difficulty testing changes)