wve, you are right that the time reflected in the NDL time is the descent plus bottom time. However, it is not correct to state that the ascent phase of the dive is irrelevant.
To use an extreme example: Suppose you do a dive on a wreck at 130 feet, and your NDL time is 8 minutes there. You spend your eight minutes, and then you begin to work your way up the wall next to the wreck. 15 minutes later, you have only gotten to 100 feet. You are ascending -- but you aren't ascending fast enough to avoid ongassing a whole bunch more nitrogen, and you are quite likely to be over your NDLs at this point.
A certain rate of ascent is necessary to consider it an ascent, rather than a multi-level continuation of the dive.
If you look at the Marroni studies, they showed that, for dives to 75 feet (IIRC), a 10 fpm steady ascent rate from the bottom was actually WORSE for bubble scores than an ascent performed at a higher rate, but incorporating shallow stops. There IS such a thing as too slow an ascent.