The 757 is a hunk of crap too, then!
HATE ME.
You're right about this, it shows what is being requested of the engines, not a specific power output. Even in the GLORIOUS, AMAZING, AND BICYCLE INSPIRED E-JET, what you're asking of the thing depends entirely on what mode the engine is in. The detent does different things depending on what you've got the thing programmed to do, though TOGA is still TOGA.
It'll be interesting to see how DoesThisMeanAirbusBuildsTrainCarsToo? Industries handled the issue on the A220.