Positive. A pwm is a unregulated mod with a potentiometer (some newer models have a screen) that controls the frequency in which it turns on and off (or pulses). This has no pwm chip in it. They are misusing the term. Ive never even seen a single battery pwm before either.
Edit- I get what they are claiming here, it is designed to turn on and off similar to a pwm when the ohms are too low so it doesn't go over 60w. But it still is not an actual pwm mod. It is like calling a regulated mod running bypass a mech.
Yihi are regulated mods – they use PWM (Pulse Width Modulation) for TC
By definition the term “regulated” means controlled. PWM is a form of controlling the output.