I like it - though we use SME- Subject Matter Expert.
E.g. If you aren't an SME or a Manager, then why are you in the meeting?
(SME encompasses PM and BA roles, as they too should be experts in their domain and ideally on the domain we are working on.)
SME and IC are functionally different. SME informs, IC creates. Often, IC aren't SME in the space they're developing in, because they're SME of the technology instead of the business.