I think we must be using "unlocked" in different ways. I'm intending it in what I think is the conventional way for this context: when the device's cellular subsystem is not electronically locked to a particular cellular service provider.
You're absolutely right, I should've picked a different word. I mean unlocked in the lock-screen/password sense. Of course, messing with carrier settings is not easily done even if the phone is not carrier-locked, and pulling of an exploit that way is even more difficult.