No, its not irrelevant. The terms have meaning, regarding the separation. And while it may technically be a misnomer, feigning ignorance to the misnomer to try and point out the misnomer to people who already know about it is not only arguing semantics, but doing so in least constructive way possible.

To address your other post that its all marketing speak, well no, not really. In discussions, what gets called hardware or software conveys meaningful information, but it is highly context sensitive to the bits being discussed at the time, because technically all computing is some combination of hardware and software.