That's just what it signals to you. To others it signals a healthy environment. If you have a problem with it I seriously suggest you take it up with your management, but I very much doubt that their thought process was anywhere close to the one you describe. If it was they'd be shooting themselves in the foot deliberately.
That said, open-plan signals to me that the company doesn't actually value productivity so much as image and availability. This is something that I have learned with age not to take personally, but I still dislike it.