Bobby T. Nope. You're missing nothing and I think your figures are spot on.
It's a con and it's causing a lot of anger. People with 2 to 2.5 years left are being offered flying tours BUT only if they sign on for PAS as they won't be able to do a full 3 years ROS.
Without an FRI, you effectively lose your pension for that period and the pay off lump sum!
For some, it's nothing short of blackmail.