The policy is not learned token by token during RLHF and RLVR. The reward model doesn't score token by token.

So? tokens are emitted one at a time according to the output distribution & sampler algorithm, and the next token distribution is a function of the preceding token sequence only. The process by which the output distribution is shaped doesn't change the core mental model, and doesn't reduce its value. It's a prediction in the jargonic sense that an inference about future values of a time series is broadly called "prediction", and it's relevant for reasoning about LLMs because they are fundamentally limited to converting tokens sequences into next-token predictive distributions, and that bears on how they can do what they do and what their limitations are. Nothing about the training process changes that.