It's a fact that PoW involves quite a bit of waste, just like it's a fact that e.g. a coffee shop will waste quite a bit of coffee (by discarding it at close or when it gets too old). That the market dynamics all but require the coffee shop to do this doesn't somehow stop it from being waste.
The market can't disagree with definitions of words. What it can do, is encourage the waste.
The market can't disagree with definitions of words. What it can do, is encourage the waste.