Correct. The stuff there is for the "database"/file systems and that's about it. If your card is clean it doesn't have your personal data on it. IIRC your account info is saved on the system in the hardware "internal RAM" or whatever instead of the memory card. After all, they needed a way to have people sign into PSN/make PSN accounts without a memory card.
they do?
you can't buy anything on the psn with out a card, and you can't start most of the games on the system without a card... in general on the vita without a memory card all you can do is watch the welcome video and watch the preinstalled bubbles bounce... and maybe play like 5 games, I really don't think signing into the psn without a memory card is really something they needed to do lol...
that being said it is nice the info is tied to your system instead of the card.
edit: top of the page recommendation watch this and get hyped for this fall lol