A canonical lerp is a linear interpolation. What this post describes is repeated linear interpolation towards a target with a fixed interpolation ratio, i.e. ex

A canonical lerp is a linear interpolation. What this post describes is repeated linear interpolation towards a target with a fixed interpolation ratio, i.e. exponential averaging aka a 1 pole lowpass filter. A more serious treatment of the subject would've touched upon this. It would also not call this "lerp" because that name is already taken for the general form. For example, you can fix the laggy feel of a single exponential average by repeating it. This creates a two pole lowpass filter with a steeper transient. Z transforms from DSP provide a more formal treatment of the subject.