Yes its just a term, not a variety. Definitely not worth growing from seed unless you are:
a. Under 50 yrs old and are willing to plant 200 to try to get a good one (maybe).
B. If you are over 50 and feel lucky you can give it a shot for fun.
Some times seedlings are good but lack other characteristic required to become a cultivar. For example I just had for lunch an avocado that is growing in a shoot from the root stock in an abandoned grove. It weights 20 oz, the seed must weight 10 oz, huge, but the pulp is Delicious. I would pick it over a Hass, any time. But no one wants a 20 oz fruit with about 8 oz of pulp. It would never become a cultivar, except in my house, at this time, that's what we eat. I have Monroes at this time of the year but I rather eat these unknown fruit that we call "Redondito" (meaning the little round one)
There is a value at planting seedlings. I'm certain there are a lot of good cultivars in people's yards everywhere.