Interesting. I don’t have a counter to the coining a new term evidence in that article. Potentially that’s solid evidence of the first aspect.
But I do have a counter for the second point:
Context is not a part of the model. It’s an ephemeral blend of input and output fed back in as input.
Online learning is potentially a way for incorporating and evolving coined terms to happen. But since that’s not what any of the models are doing, something would have to change in how we do things before it could happen.