The problem with the P in MVP is that Your Product is NOT “The Product”[1]
But I guess that as the term goes mainstream, it is only expected to be misunderstood[2][3]
[1] http://www.ashmaurya.com/2011/06/your-product-is-not-the-pro...
[2] http://agilefocus.com/2011/02/21/agiles-second-chasm-and-how...