Yes “open weights” conveys the reality more clearly: merely having the parameters is very different than able to run a process that creates them. Without openness of the full process start to finish, much is hidden.*

Remember, language is what we make it. Dictionaries are useful catalogs of usage but we make the judgment calls.

* Even with the process, much is not well understood! / The ethics of releasing an open weights model at some capability level is a separate discussion.