As a professional trader I agree with your interpretation. It's easy to get fooled into thinking people that talk about technical analysis in the markets have some kind of 'magic pill' or 'secret sauce'. Then assigning responsibility and authority to them.
As you stated, much of it can be automated and what is not automated in the case of ozchart is merely a recollection of price movements and unexplained lines without context. It's not analysis.
This is the exact same reason why I keep my own technical analysis to myself. It's no magic pill, it's my own opinion, and it makes no sense trying to explain what I see when I look at a chart, a chart that has zero predictability. If I were to express any analysis, it would be fundamental analysis (news, events, developments, etc), because you're stating the facts rather than speculation.
It is just a plain ole' chart that anyone who is trading should know how to create. Can you picture a trader waiting around for this chart to come out so he can trade. SMH. Either people haven't traded or.... I don't even know what else to say, this is so silly.
Let's not overstate it, now. If you know that it has zero predictability, wouldn't it make you a fool to use it?
Technical analysis is statistical analysis of price patterns. We will find with enough research that certain price set-ups and/or patterns provide specific odds of "success", whatever parameter we assign to that word.
The problem is that a lot of people want the "holy grail signal" that has a 100% success rate, while the best signals are more in the 55 ~ 60% range. Thus, reward/ risk profile is mostly what determines trading success.