Wrong...the receiving carboy has been evacuated of air before the wine starts to flow into it. With vacuum racking, virtually zero oxygen exposure occurs.
Another "benefit" is that the vacuum works only on the surface area of the wine and with thin-film degassing, a huge amount of surface area is available for the vacuum to work on, when in a carboy, the surface area is tiny and the vacuum must pull gas from deep in the wine.
I also never have to follow the steps that you laid out, stirring, starting and stopping, large headspace, foaming...none of that is ever needed with vacuum racking.
How about we just say both ways work and leave it at that.
The pump is incapable of vacuuming out the all the air, check the specs, only 22 inHg. There is oxygen whether you believe it or not. Do I think it makes a difference? No.
I can degas and rack 6 gallons of wine with a pump and a racking cane in just a few minutes, not multiple rackings. Do I think that's a big deal? No.
Look, I'm not trying to convert you, use whatever method works for you, but take caution when you respond to a post that your way is "a much better way", it's certainly a good way, but there are many options for all activities.
The AIO is a fine product and I commend Steve for his ingenuity. In you opinion, your way is better, I'm cool with that. In my opinion, my way is better, you need to be ok with that too. No big deal, I'm just making the best wine I can and trying to share my methods with folks asking for help. I know the good folks here have helped me a ton, you included Doc!! Drink up.