BJT Collector-Emitter Breakdown Voltage
You are considering the absolute maximum voltage as the breakdown voltage, but it's not. They are two completely separate things.
The breakdown voltage is defined so that the manufacturer guarantees that at least 400V or more needs to be applied to have 1mA current flowing, which is considered as the point of breakdown. It could be more, like 500, 600 or 700V before 1mA flows. It might be that current of 1mA is not reached even at 700V, the current could be less than 1mA. Or there might be 1mA breakdown at 690V and 2mA flowing at 700V.
The absolute maximum rating means that it is not rated to handle more than 700V, and beyond the 700V rating the chip can be permanently damaged immediately or will suffer long term degradation of electrical parameters and shorter lifetime.