gain the speed (fast or slow) does not determine it's classification. It's the hull shape aft.
Depends on who your talking to, I think. To the naval architect you're probably right. To the manufacturer, particularly with regards to their marketing/branding/image folks I think speed is the way the boats are classified. And I think most buyers look at it this way, too.
"Displacement" means slow, efficient, seaworthy (however you define that).
"Semi-planing" means faster but still kind of efficient and seaworthy.
"Planing" means goes like a bat out of hell.
And that's how boats are perceived by the market, I think, and so is how these terms are used by most people. That's why you get Nordic Tugs marketed under the term "fast trawler" even though they're not all that fast and they're not trawlers.
The typical boat buyer's not going to understand or care one bit about buttock lines or water flow or any of the rest of it. I suspect if you asked, 99 percent of boat owners, and probably 100 percent of boat salesmen, won't even know what a buttock line is.
So two separate worlds. The naval architect/marine engineer world and the boat-buying public world. I've been using the terms as I think they are perceived by the boat-buying market and the manufacturers in describing their boats to that market.
However I am under the influence of some pretty strong cough medicine as I'm taking a sick day so perhaps I'm making even less sense than usual.