Ford can call it what it wants -- it is a big electromagnetic NO solenoid. I've rebuilt several of them over the years (high amperage contacts arc when they open & close and eventually melt, but you can flip them over and double the unit's lifespan).
All starter motors Have Bendixes. The motor would spin at engine RPM's otherwise.
My AMC is wired the same way, albeit with the solenoid attached to the starter motor itself, GM style.
Sidebar: one advantage of a remotely located solenoid is the ability to start your vehicle with a piece of scrap metal when the solenoid dies (you can't push start an automatic).