I think "production ready" is essentially impossible without also being able to say "I/my employer/foocorp is running this in production" unless you're not allowed to say it for legal reasons. I think it would take a very experienced developer to predict in advance every issue they'd run into putting something into production.
The definition you gave is exactly how I would read `production-ready`. I might be overly optimistic in assuming that this is the case whenever someone uses the term, though.
> I think it would take a very experienced developer to predict in advance every issue they'd run into putting something into production.
I am not sure whether that can be expected from any project that exceeds a very narrow scope and/or if which it’s correctness can potentially be mathematically proven.