The nuance is that if you gift below the yearly reporting amount, it does not count towards the lifetime maximum, since it never has to be reported.

So if Woz had given $10,001, then he would have had to file it, and then when he died, it would have added $10,001 towards his total lifetime gift tax exclusion from his estate (currently $13M). But if he gave $10k (or whatever yearly reporting maximum) per year until he dies, then all of that does not get counted towards the $13M lifetime gift tax exclusion, so in a way, it is an additional tax reduction when the estate gets passed down.