True but a distinction of zero practical use. Pilots are interested in the power the engine is putting out. The most intuitive and obvious manifestation of that is to tell the pilot what the horsepower the engine is producing.
HP, N1, EPR, RPM, MAP, BMEP and torque are just numbers to pilots. While it is cool to look down and see 16,000 HP rolling down the runway, I don't think most pilots are doing the math, "If I can raise 8,800,000 pounds one foot in one second and we weigh 120,000 pounds I'll climb at 73 feet/sec." And since the engines aren't lifting the plane that's not what's going to happen.
Wasn't 243 BMEP in an R2800 = 2400 HP? All just numbers.