Yeah, that's what everyone on ICS has. Previously, the options were CDMA (3G-only) and LTE/CDMA. Many people who aren't in a 4G area (or who just want to save battery life), prefer to run the phone in 3G-only mode. The ICS update removed that option from the settings, as your screenshot shows. In order to force the phone into 3G-only mode, you have to either do it manually - which is covered in the first post of this thread:
[How To] Enable 3G only mode - or use an app that does the same thing -
LTE OnOFF - HTC Thunderbolt.