That's not really cynical, just a statistical fact. With one slight correction. The judges split the presentation score 4 ways, and gave 0.5 less for the Transitions component.
I always supposed that the reason for this was that transitions could actually be labelled and counted, so there was some basis for scoring other than a subjective opinion about matching choreography to music or establishing an invisible emotional connection the audience.
I used to think that it would be better to have just two components, Skating skills/transitions and esthetics. But
@gkelly convinced me that the five components, though full of overlap and redundancy, provided the judges with the opportunity of making finer distinctions amomg performances that were of about the same quality. If a judge thought that three skaters were all about at the 8,75 level, but that one was a touch better and another a touch worse, that judge could give skater A 8.75, 8.75. 9.00 in the three esthetic components, skater B 8.75, 8.75 and 8.75, and skater C 8.50, 8.75, 8.75 (thus cheating the system by achieving a de facto finer gradation than steps of 0.25.

)