

It’s a bit more complicated than that. System load is a count of how many processes are in an R state (either "R"unning or "R"eady). If a process does disk I/O or accesses the network, that is not counted towards load, because as soon as it makes a system call, it’s now in an S (or D) state instead of an R state.
But disk I/O does affect it, which makes it a bit tricky. You mentioned swapping. Swapping’s partner in crime, memory-mapped files, also contribute. In both of those cases, a process tries to access memory (without making a system call) that the kernel needs to do work to resolve, so the process stays in an R state.
I can’t think of a common situation where network activity could contribute to load, though. If your swap device is mounted over NFS maybe?
Anyway, generally load is measuring CPU usage, but if you have high disk usage elsewhere (which is not counted directly) and are under high memory pressure, that can contribute to load. If you’re seeing a high load with low CPU utilization, that’s almost always due to high memory pressure, which can cause both swapping and filesystem cache drops.
I used to run a TFTP server on my router that held the decryption keys. As soon as a machine got far enough in the boot sequence to get network access, it would pull the decryption keys from the router. That way a thief would have to steal the router along with the computer, and have the router running when booting up the computer. It works wirelessly, too!