Technically, I think they're correct with their definition[1]. However, they should be more explicit with the "Shared" part and have some better documentation rather than an announcement blog post[2], a community guide[3], and a moderator comment on that community guide [4]. Especially in today's privacy-conscious world.
Having said that, people who are concerned about privacy should always be validating their setups themselves. The maxim of "trust but verify" comes to mind.
I never said they weren't "technically correct," I said the name sucked and confused people [0].
They could also just use "Data Center LAN." No confusion there.
[0] https://en.wikipedia.org/wiki/Privacy