That is a myth, open up any book from any version and look at the list of commands in AutoCAD LT the very first entry is and has always been 3DPOLY
What LT is missing are many of the 'tools' for working with 3D and LT cannot create 3D solids, meshes etc. but it can certainly open a drawing that contains them and it does have a whole load of tools for getting around and viewing 3D modelspace. We have 3D views, the 'hide' command to better visualize 3D models. Measurements are taken accurately from 3D points. In fact one question that comes up regularly in LT forums is how to get rid of 3D data and change it to 2D (unfortunately that is also a problem in LT with its limited set of tools and commands). But 3D space in LT is very real, and very useablein LT.
The list of commands that work only in a 3D model within LT are not always in the Ribbon or Menu, but they are there eg hide, shademode, 3D views, vpoint, even the UCS command.
And most commands will work within 3D space 'Align' prompts for 3 sets of points as source and destination and works perfectly fine for aligning 3D geometry.
Many types of geometry have to be coplaner "flat" eg ployline, but there are no restrictions on the orientation of that plane in 3D space and by altering the UCS and the viewing angle you can draw a 3D box using the polyline command.
Yes LT cannot create or edit 3D solids, but it is capable of so much more in a 3D modelspace, and LT is definately not ONLY 2D