What is the relationship between "Add Controller Input" and the camera/cameraboom's relative location/rotation?

Using the 3rd Person template as an example, I’ve recently noticed that whenever the camera is being controlled via “Add Controller input” (Yaw or Pitch for example), the relative location/rotation of the camera component, or camera boom component, doesn’t change (viewed via print node).

How is this possible? What exactly is going on here? The camera’s relative position and rotation clearly seem to be changing when you rotate it around the character, why doesn’t its relative location/rotation get reported?