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It is not Lemmy or kbin, it is the fediverse.
(kbin.social)
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While you're correct, it's just a clunky term. I think some other way to refer to the whole thing will probably come along soon, and in a few years, people will regard saying fediverse the same way we look back on people talking about "surfing the information superhighway" or whatever.
I would love it if we just went all early 1990s and started saying "hello Internet!" or something beautifully corny like that.
In the end activitypub is a standard recognized by the W3C, so it would be kind of accurate.
In my best AOL voice: You've got fedi! 🤣🤣🤣