I think it is a smart play.
They are getting lots of press in the places where the people that care go.
On their website, they focus on the benefits of their platform for customers. From that perspective, the new COSMIC is just a refinement on what they were shipping before.
And this is just the beginning. COSMIC itself is still fairly basic. And the “new” Pop!OS is based on an LTS base that is already 2 years old. None of that is a problem but it is not a hand they want to overplay.
They may actually make a bigger deal about the benefits when 26.04 ships. Things will be a bit more “industry leading” by then.
Well, the kernel is not “just a program” in that it is not like the other programs on your system. If it was, you would “just” run it in your shell. The kernel cannot run this way of course because it is not a user mode program.
That said, if course the kernel is a program in the sense that it is a set of machine instructions that make the hardware do what you want.
And the kernel is designed to talk to hardware and other programs—to be the bridge between the two. It is not something an end-user interacts with directly.