You are correct.
The DOM specification details which types of nodes have values, and where the values come from:
- DOMAttr: the attribute value
- DOMText: the text
- DOMCDATASection: content of the section
- DOMProcessingInstruction: everything in the PI except the target.
- DOMComment: content of the comment.
- DOMCharacterReference: the decimal number corresponding to the character (extension to DOM)
- All other nodes: null.
Entities fall into the last category, so this API will return null.