I think what happens is this:
a. In heat mode, when the temperature sensor detects the cabin temperature is below the slider setting, it moves the blend door to allow more heat in, at the fan speed selected by the fan speed slider. As soon as that temperature is reached, the blend door closes, not allowing any more heating.
b. In AC mode, if the temperature sensor detects that the cabin temperature is above the slider setting, it moves the blend door to allow cool air from the AC in. As soon as the cabin temperature is at the same temperture as the slider setting, it closes the blend door.
What the system cannot do, is heat the cabin when the system is in AC mode, or cool the cabin when it is in HEAT mode. It also cannot control the fan speed. Modern automatic temperature controlled AC can heat, cool, and in many cases, speed up or slow down the fan(s).
I don't think the lever in the semiautocmatic AC is directly connected to the blend door, or the system would never be able to shut off the heat or air. Instead, there is something like a balanced bridge circuit, with the thermistor or bimetallic strip as one leg of the balanced bridge. When the thermistor resistance value changes due to the temperature, it generates a voltage (due to the bridge now being unbalanced) that is amplified and either electrically moves the door, or moves a vacuum valve that moves the blend door. The mode switches on the panel (HEAT, AC) just switch either which blend door gets moved, or the direction the blend door is moved. I don't know if there is one blend door or two.
I can't figure out if the Semi-Automatic system actually can turn the AC on or off, or just moves the blend door. I would need to look at the manuals for that, and I don't have them yet. It may only control the blend door, or may actually turn the compresson on and off.
Kostas