The use of that term was entirely my sloppiness alone. I used “first principles” only to mean the opposite of a phenomenological model, as @s-macke put it. What’s the right term there? Theoretical model?

You’re okay with “physically based”, but not “first principles”, @s-macke was okay with “first principles” but not “physically correct”. Personally, I wouldn’t mind being able to talk about graphics in a way that doesn’t immediately rub physicists the wrong way, but I’m not sure how, and I’m bound to cause some problems flinging around terms that have a precise technical meaning in physics. Sorry about that. ;)

It’s definitely true that in graphics we are not usually setting out to simulate quantum effects, unless the result is visible at the macro scale. Despite that, we’re trying to incorporate all the physics that matter at the macro scale.