Since we're being pedantic, scalability doesn't mean "becomes faster". Your definitions are generally right if you replace "becomes faster" with "handles more

Since we're being pedantic, scalability doesn't mean "becomes faster". Your definitions are generally right if you replace "becomes faster" with "handles more load". Something that scales is something that can handle additional load without slowing down as much as the next thing, or that has a prescriptive method for preventing such slowdowns (like adding more hardware or moving to a bigger server). You're generally spot on but for that point though.