I understand there is way to change
the_content. But do any of the existing "features" on the search feature (under add new themes) indicates the
the_content is already the default option for the theme?
No. The search function essentially captures the header of the theme's
style.css file, which contains two types of information that relate to the theme's properties.
There is a description, which holds a free text and there are some tags which must be chosen from a fixed list. The excerpt/content choice is not among the tags. The free text may contain some information, but it is not systematic data.