I think your point would be better made by not focusing on the terminology. The way I would define the term "cryptocurrency", Libra Coin would qualify since it

I think your point would be better made by not focusing on the terminology. The way I would define the term "cryptocurrency", Libra Coin would qualify since it uses a blockchain and cryptography. And transactions must be validated by multiple different parties (validators). Your objection seems to be related to something like openness, i.e. who is allowed to become a validator. In other words, within cryptocurrencies, there are two categories. They could be called, say, open and invite-only. Libra is invite-only, which you don't think is a good setup. That's the real objection, not that it isn't distributed and not that it isn't a cryptocurrency.