I think that's a good clarification, I agree with your point-of-view. The question is for how long this JPEG-NFT-bubble will go on, as long as Second Life or longer/shorter. The word "bubble" can be a bit loose definition, it might inflate/deflate slow/fast; and depending on that be relevant or irrelevant. Usually people seem to mean fast and blow off top, which might not necessarily be the case.