So I think it makes sense that records are mastered with a lot of dynamic range, so the people who actually enjoy music can enjoy it, and the people who don't can just equalize it themselves.
You do realize that you just restated my comment, but left out the analysis of the current day situation? BTW, equalization doesn't directly change dynamic range. Equalization is meant to change frequency response. It can change dynamic range by causing clipping.
If you're generally talking about "Loudness Equalization" then in many cases, it really is equalization. I don't know about anyone else, bit I've been talking generally about loudness equalization the whole time.
Windows loudness equalization is not equalization, despite the silly name. Ironically, I imagine Microsoft specifically didn't call it compression because most consumers only think of the other compression. Good grief.
Well, you learn something new every day. In this case, it's yet another time marketers have completely diluted the technical meaning of terminology.