Isn't the big problem that BM25 (and friends) will help you find (and rank) exact search terms (or stemmed varieties of that search term), whereas semantic sear

Isn't the big problem that BM25 (and friends) will help you find (and rank) exact search terms (or stemmed varieties of that search term), whereas semantic search can typically find items out-of-dictionary but "close" semantically? SPLADE, on my reading of it, seems to do a "pre-materialization" of the out-of-dictionary part.