Constant current fed into the thermistor, voltage developed varies inversely with resistance.
That would be a ridiculous design for an application such as this. A whole IC for a constant current source, vs a SMT resistor which would cost well under a penny. Both product an output of a voltage that then needs to be read with an ADC pin on the microcontroller.
To you maybe it does seem like rubbish, but then do you have skills and experience in electronics design ?
Yes, a career in embedded microelectronics.
I respect your knowlege of RTD's - i've never used them, and I guess that's where your talk of elements comes from.