Absolutely true. I hadn't considered man in the middle or arp poisoning type attacks where the intruder will actually see the payload of the packets.
However, what POST protects against is for instance if a website uses a form to reset a password "www.company.com?resetpw=1". Any bored teenager can get unsuspecting users to click a link with that hyperlink embedded and reset that user's password. Obviously there are more dangerous examples than what that one, but it is this type of "attack" that POST will prevent in that the action is not present in the url.
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