It's is but that's the issue. The term is misused and misunderstood. Meaning variety of things and activities. How the definition has emphasis on building something quickly and cheaply, can do more harm than help.

When that happens maybe it's just time to retire the term and move on. These days it's common to validate products as you build them. You can critically think what a good product looks like in your space and aim for that. Then iteratively improve from there. Not sure what the MVP term really contributes to the practice.