It applies lens correction for some cameras automatically. There is a checkbox to disable lens correction in the RAW processing adjustment.
RAWs automatically have a variety of development parameters applied to them, including boost, which is set to maximum by default. Other settings, like noise reduction and RAW sharpen are calculated and applied by Apple’s decoder (and RAW Power shows the value that Apple’s engine is using).
If you want a bare-bones RAW, then you would want to move the sliders to the left (except Black Point). You can make that a “camera preset,” which is a regular preset with the “camera” checkbox applied.
When you do that, then every time you open an image in Edit for that camera, RAW Power will apply that preset. That preset can have whatever you want in it, including, say, Curves.