Correct; it does not. Which is why steps were taken to minimize remote servers' ability to use secondary signals (such as access to localstore APIs) to make an educated guess about whether the user was operating in incognito mode.

It's not me who doesn't know how it works; it's the people who think "New York Times shouldn't be able to whine at you if you're in incognito mode to go buy a subscription" and "servers should be required to modify how they handle your traffic if you're in incognito mode" are compatible protocol features.