You’re absolutely correct. But the vast majority of my readers think of the RMD as their “living money” for that year. I think relatively few people have the self-discipline to save some of that money OUTSIDE their IRA, or have the additional retirement income that allows them to do so. So, I’m truly worried that those who live longer than the RMD period which is designed to “empty” their IRA will run out of money and live longer.
In fact, the government is also worried! You’ll see that the SEC just proposed new tables for RMD withdrawals to try to deal with this issue. Here’s a link to a WSJ article from November 7th discussing this very issue!