Correct, but you can accept/decline the offer based on team placement. You don't have to accept and then see what your options are.
(For complicated reasons I actually spent about May through July of last summer with an offer open, and talked to 5 or 6 different teams through that process... and at the end of the process when I called to decline, I was told that headcount had shifted for Q3, the team I'd most recently spoken to had lost their open headcount, but there were other teams that had now had open headcount and might be interested in talking.)
