My understanding is that this is incorrect.
<progress> is for a progress bar, such as downloading a file, or a loading screen.
<meter> is for showing a value in linear space.
The progress through a form is a value in linear space, not a task that the user is waiting for. Their progress can go forward and back. The user is in control of the value. Therefore <meter> is the correct element.
Is the element there to keep the user amused while they are waiting for something? Could it conceivably be styled so as to include a waiting animation? Does it only ever move forwards and never backwards? If yes, then it's a <progress>, if no then it's a <meter>.