It's a marketing term now. Back then, it was a visual revelation and an emotional piece of technology that brought accolades to the iPhone 4.
The iPad 3 will be a visual revelation when it is unvieled and get tons of accolades from the press.
I doubt you will find one single article from a big name news outlet who will spew "BUT BUT BUT BUT ITS NOT RETINA" sort of nonsense.
The idea that iOS devices will become lesser quality with Scott Forstall running the iOS division still is just absurd. He is a mini-Steve Jobs. He is very much Jobs equal in terms of dedication and obsessive quality control.