PSA / DNA Certified Authentic red label question

Can someone explain what Authentic means compared to having numerical grades on PSA / DNA Certified red label flips ?
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From the PSA website.
<< <i>This means that PSA is only certifying that the item is genuine, without a numerical grade. This may be due to the existence of an alteration, one with malice or otherwise, a major defect or the original submitter may have requested that PSA encapsulate the card without a grade. The "Authentic" label means that the item, in our opinion, is real but nothing more.
From the PSA website. >>
That is only true if the card is not signed. If the card is signed and has an "authentic" grade then neither the card or autograph receives a grade. If the card is signed and has a red flip then it is NOT altered. They do not slab trimmed autographed cards with a red flip (only blue flip).
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