As I said it does show the true loading process. If you fill a layout with sprites you'll definitely see the loading screen, which will disappear once the layout loads. This is exactly what it does.
Unless you have some data loading written by you, such as a level editor, or you're fluent enough with the plugin SDK you could have a progressbar or whatnot. This however is exactly the way you do a loading screen and there's little to argue about.