It means everything. It means nothing. I don't even think devs use it right anymore, if they ever did.
What does cinematic mean?
THIS.
The sound design, the camera behavior (from the normal wide follow shot to the zoomed in view), the way the landscape is framed (and reframed, and reframed) dynamically, the use of music cues, the use of lighting + fog + silhouettes, the post processing. It's about using cinematic language in gameplay to emulate the
feel of a movie, from aesthetics, to camera work, to effects, to sound, to intensity, to intimacy, to spectacle. The goal is to make gameplay movie-
like in presentation. Has nothing to do with being story driven, has nothing to do with a lack of gameplay, and most importantly- has nothing to do with cutscenes (which ARE short films in and of themselves).