Deleted means removing as much PII as you reasonably have authority to do so. It means purging all that data from all databases with a guarantee that you will be removed completely from all snapshots in a reasonable amount of time.
This should be the default, normal understanding of what it means to delete your account.
It doesn't mean set a flag in a database so when your company gets acquired in a few years your new owner has a nice little trove of data to mine of people that explicitly opted out.