You are correct! Both the RAM & SSD drive are soldered to the logic board.
Keep in mind here this is intended to be the entry model for everyday users not the Pro's!
Review Apple's site for the full breakdown of what the new MacBook is all about.
I expect Apple will intro newer MacBook Pro's which will still offer upgradable storage (at least 3rd party). But the question is with internet connectivity available almost everywhere, does one always need deep onboard storage?
I'll admit I still want to carry what I need with in the one package (my files), and our company needs still dictate we do so. But, there will be a point where we too will need to bend to what the PC makers think is a portable laptop system. Apple is not alone pushing in this direction. As much as I don't like it either.