Yep you are right about SIGTERM, but let's think back to the original reason why we wanted to update the node: because of a patch, probably a security patch for a CVE?
What is the better option here? Implement a SIGTERM based process that allows the user to block the patch for a critical, possibly zero-day CVE for xx hours, remaining in a vulnerable state the entire time? Or implement a system that just patches the underlying host without interrupting the workloads on the box?
You aren't wrong, what you described is a possibility, but it is not the best possibility.