It likely stretches the definitions compared to what most people who do not want to be recorded think the laws should prevent, but on the other hand at least it couldn’t be used as legal evidence. It sounds intended as a memory aid, where passing a transcript for gossip purposes will hopefully be met with automatic skepticism as something that isn’t authenticated in any way and could be made up entirely.
They probably spent enormous amounts of time weighing how much legal jeopardy it would create for their customers.
The world’s fastest smartphone typist can do what the mic icon does. In, say, court, “look I typed this” & “look this was dictated” would seem to be just as trustworthy since either can be edited after the fact. And someone could type and say it was transcribed, or transcribe and say it was typed. Whereas the law doesn’t want us voice recording and having the actual (forensically provable? w/the right budget?) record, unless everyone agreed.