No ... what Corsair Dustin has been alluding to is that the RPM control is a limitation of the IC itself. Like I said, my guess is that the commands specifically to set a custom fan curve actually take, as input, target RPM and the device controls the PWM to hit that target fan curve. Working with these little devices is sometimes weirder than a normal person would think. They are designed by electrical engineers, who also tend to be a little weird. Mostly it's due to the very limited processing and memory available on those devices.
Now, I've not opened it up to see what chip they are using but I have done device programming like this before and for there to be a wonky crazy limitation on the actual controller doesn't come as something that's out of the realm of believability. In fact, once you've programmed a couple of these devices, it's pretty darn believable.