It is indeed a true statement. Other than an illegal substitute, a player can only be ejected. In fact, there's a case in rule 3 that outright says that (don't have my books on me, but just saw it a couple days ago).
While there may not be a functional difference in that game, there could be a very meaningful difference after. In OH, a player ejected has to sit out 2 games at the same level (if ejected in a varsity game, has to sit out 2 varsity games, to prevent being 'sent down' to JV and sitting out 2 games there in a sham suspension). So from that POV, being restricted - if an option - would be different. But alas, it's not.
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