Yerp, I agree. It also seems the vernacular differs depending on region. "Graphics accelerator" was also a term thrown around in media of the early 2000's.
Back in the early 1990's, SVGA clones started appearing and differentiating themselves by featuring "Windows acceleration" capabilities. This included things like copying from one 2D block of video memory to another, solid fill, line & polygon drawing, font caching, etc. I think that's when the "accelerator" terminology started. Then, "3D accelerator cards" were the next evolutionary step, getting more towards the late '90s.
Here are two examples of the latter:
(edit: to qualify) Old school is relative, myself? I've been PC gaming since the early 286 days, with a brief stint on a C64 thanks to a lucky garage sale find around '91.
My first real computer game was
Ultima VI, on a 8088 PC XT clone w/ Hercules video card and a monochrome (amber) monitor. The first time I played it on a color monitor was revelatory - it was almost unplayable on monochrome, not to mention an 8088. By the time
Ultima VII came around, I had a 386DX-25 w/ XGA graphics card (Tseng ET4000 chipset) and Sound Blaster Pro. That game really wanted a 486DX-33, though.
My other favorite games of that era were Castles, Civilization, the D&D games by SSI, Darklands, Descent, Doom, Lemmings, Populous, Quake, Wing Commander, and Wolfenstein.