I think your premise is correct, but the post is a little misleading. At least to me.
This is how I understand oil ratings:
The numbers that oil is labeled with represent more than one thing, because the oil has to meet required "standards". So it gets confusing. It's like saying it's a certain shade of blue for SAE-API 10W30...lol.
I understand it as the weight of an oil primarily means that it must provide the protection (load carrying ability) of that given rating. The same number includes the viscosity rating, which is about how temperature affects it. Oil thins, or gets less viscous, with heat. Conversely it thickens, or gets more viscous as it cools.
Viscosity number denotes
resistance to flow. So the higher the viscosity number, the less easy it flows at a given temperature. A "straight weight" oil may still thin as it heats. But not by much and must always provide the protection that weight oil has to per the SAE-API. I know of no oil that gets thicker as it heats up, and regardless of it's viscosity if an oil carries a certain weight rating it must provide the performance of that rating. So a "0-50" oil has to provide the protection of a 50-weight oil at 212*. Even if it's not very viscous (as in it's very thin). That being said a higher number rating is about performance, not thickness. In mineral-based oils more protection meant it had to be thicker. No so with synthetics. The first time I ran 5-50 synthetic I was terrified because it was so thin compared to the 20-50 I was running. It still had to provide the performance of 50 weight rating, but it was much less viscous. That's what frees up power: less power loss to pump it and less loss as the parts spin through it while maintaining the protection.
The "0*" or "W" number indicates the tendency of that specific oil to thicken in the cold. 30W is thicker at all temperatures than 10W. 10W is thicker than 0W, etc. So 10W-40 is a 40 weight oil which thins less when cold than 15W40 at zero degrees. It still has to protect to a 40 weight rating at 212*. Even though it's technically thinner.
Here is a decent read about it... I still don't think I "get" all of it but I think I get the gist.
http://www.pqiamerica.com/apiserviceclass.htm