bzzzt. Not true.
BIOS is hard at work at runtime. Firstly, it provides the mainboard design specific functionality that the operating system technically cannot have a clue about - power management, hardware monitoring, event handling. Then, it assists the operating system in hardware related tasks like hot plugging peripherals, docking station management et al. Particularly with legacy free, fully ACPI enabled PCs, the BIOS does quite a lot of things.