When I built a ETL pipeline before the term ELT existed, we had multiple pipelines that transformed data in the data warehouse as well as transforms of the raw data on the way in. The transforms on the "way" in were minor like renames or formats while the transforms from within the dwh were much more involved.

Every pipe from db to dw is going to be some form of ETL, it's just that with "raw" data the transform is minimal. Unless your going apples-to-apples data storage, there's going to be some transforms in the actual underlying data types.

I agree with a comment down below, it's a genius marketing term.