That is correct. The couch is a pull-out bed and is best used for that. TV is only visible from main bed. My guess is if they started adding TV's (they easily could behind the existing TV) and fully using space they would upgrade the room from entry-level balcony.
We stayed in Sun Princess 14102 and we LOVED IT! Had to walk to the front of the ship all the time but it was worth it. Was even able to be outside during a super soaker storm front. Loved being able to look forward towards ships direction. Tons of room. Peeked over at the 14104 balcony and it looked awesome as well. Hard to believe that these are ENTRY LEVEL balcony category.
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