Only partially correct. The traditional type of MC does have an EGG, but MC-AP has an aluminum bonding strip,like AC, so the jacket is listed as a EGC and that is printed on the neutral.
AC cable is made by AFC, MC by Southwire, by taking MC-AP and having an EGC, they can go after the health care market that AFC had with its green jacketed AC.
http://www.southwire.com/commercial/MCAPandHCFMCAP.htm
The big advantage of MC over AC is the support distance is support distance is 6 ft, no readheads, and for MC-AP, 30% savings on box make up.