My guess would be that those are 2 independent switch loops and they use 3 wires instead of 2 wires so that the neutral is provided in the switch box since that is required by new electrical codes.
So, I believe you are correct except you should not connect the neutral wires together.
The leakage to the light is an issue caused by the switch. There is no good answer for this yet. I did some measurements and got 160uA of leakage into a resistor. It was asked what the circuit is but no answer.
No answer on the actual energy consumption of the devices or the readings when off either…