Nope; everyone stops somewhere - BA, VS, QF, etc. It's theoretically possible - say, Istanbul to Perth is shorter than Chicago to Hong Kong. But probably not a high-demand route.

By the way, this kind of lack of logic is not unique to *A. Oneworld RTW tickets, based on how many continents you visit, consider changing planes in Asia to be "visiting a continent" despite the fact that there's no other way to get from Europe to Australia without a third continent stopover.