sure
> if you treat it in a binary way where everything short of 100 falls into one "lossy" bucket you lose all the practical differences that make one encoding much better than another.
no; lossless is an inherently binary term. and I don't lose all the practical differences of better lossy encoders by understanding that; I'm not just going to start using mp3 96k because I have an understanding of lossless vs lossy encoders...
Lossless is an objectively binary term.
Lossyness is baked into our problem statement here.
Using terms like near lossless means we think we are very close to reality for what we’re trying to do
mp3 is near lossless
You can't be a little bit on fire :)
A floating-point compression algorithm which reconstructs the elements so they differ by at most one ULP[1] compared to the original value is, no surprise, also lossy.
Being able to communicate that an algorithm is closer to the latter than the former is useful, hence terms like "near-lossless".