I don’t want to get involved in an argument over the technicalities of what’s right and wrong. I know I won’t win 
Would it be possible for the unwrap tool settings to have an extra option for the unwrap style, which would make the most efficient use of the texture space regardless of the resolution? I honestly believe this is what many (or even most) users expect from an unwrap function, even if there is the potential for it to created stretched textures.
In keeping with the naming of the existing options ‘Maximal texture utilization’ would seem very suitable.