That's a first step, it's not an accurate overview of their whole project. They have a term for posting on your own site, under your control, while also syndicating elsewhere (e.g. Twitter). [0] They also support ideas like federation. [1]

[0] https://indieweb.org/POSSE

[1] https://indieweb.org/federation

It may as well be a new definition. Most websites today are selling something. Even worse, most websites creating content (articles, tutorials, reviews) are doing so for SEO to their SaaS side hustle, online course or for affiliate revenue.

There should be a separate term for websites made for purely personal use, and it's not 'social media'. The early web was about making exploration fun. Nobody wants to explore someone's cookie cutter social media profile or the workplace for their second job.