Take an integer value x. Flip the sign bit. Do you now have the value -x? On a 2s complement architecture, you do not. In 2s complement, you have to flip all the bits and add one to get -x.
If you flip the sign bit, the sign changes. It does not mean that if you flip the sign, the value is negated.
But the top bit in 2s complement has a value - it's just a negative one (that's large enough to make any value with it set negative). That's not a sign bit! If you change it, the absolute value most definitely changes, and quite substantially.
I tell you what: if you think modern architectures use an explicit sign bit to represent integers, how do you explain the fact that INT_MAX+1==-INT_MIN? If there's a sign bit, how could you possibly represent more negative integers than positive integers?
Not true. Modern architectures use 2s-complement rather than an explicit sign bit to represent integers. If you use a sign bit, there are two different zeros (positive and negative) but the range of positive numbers is exactly as large as the range of negative numbers. With 2s-complement, there's only one zero and the range of negative numbers is larger (by one) than the range for positive numbers.