No, that is not correct.
There was a messenger service involved inbetween, performed by an operator, you could not talk to the other party. Exactly the same as sending an USSD message.
the collect call was continuous and instant*, not a message sent to somewhere and you wait for a call back some time.
a "please call me" does not make you hold on the line to speak to someone. a reverse charge call does.
the operator inbetween is irrelevant, might as well be a dialing prefix with an automated message, "accept collect call press #" on the other side
this is a paging service on a cellphone.