I've never used it in that sense but rather as a response to people who for some reason are baffled over the fact that the game gives more focus to Europe than the rest of the world.
I know. I wasn't referring to you, Cap'n, but to other people who'd used it in a more dismissive sense (here and elsewhere). My apologies for not being clear.
That being said, while I understand the rest of the world will not be as fleshed out as Europe, whether you follow my or anybody else's specific suggestion, I do hope some thought has/is/will be put into making the rest of the world exist at a somewhat more realistic level in relation to Europe than it was in EUIII.
To give two obvious examples, native polities did exist in North America and interact as enemies and allies that could project credible military force for centuries in reality. They also just didn't ethnically disappear upon colonisation or conversion to Catholicism. If that can't happen in the game you've fairly drastically changed the realities of colonisation - and that screws up gameplay as Europe (to name one extreme example, it's silly to have tiny European countries like Navarre end up owning a quarter of North America, somehow all Basque and Catholic and with no chance of revolting into native cultured states even though the only country that ever actually more or less removed natives from the ethnic makeup of its colonies was Great Britain).
Similarly, the Ottoman Empire fought and won wars against such potent coalitions as Venice, Spain, the Papal States, Genoa and the Knights, crushing them on land and sea, 150 years after game start, and even though their naval supremacy was eventually matched, they were still able to defeat Spain and capture Tunis from them three years after Lepanto. They remained a potent naval power and an unmatched land one well into the 1600s, and did not significantly fall behind Europe (i.e., still winning important land and naval battles against European countries like Spain, Venice and Russia) until the mid to late 1700s. It is no secret that only a skilled player is going to do that with the Ottomans in EUIII and the AI has no hope whatsoever. This fundamentally changes how Europe works. The Ottoman Empire is crucial to how and why Europe developed the way it did and it simply would not have happened if they were not such an incredibly potent military and economic power for the majority of game's timeframe. Sure, it's possible they would have collapsed early, but a surviving, territorially intact Ottoman Empire (that is to say, owning Anatolia and the southern Balkans, which should be both quite possible and a priority for the AI) should not be hopelessly behind Europe 100 years into the game when in reality there were significantly more powerful than any European state at that time.
The latter example also illustrates why it's really important for countries to be able to stagnate and fall behind, not just continue building on success after success. Japan may be a special example, but what happened to Spain and the Ottomans should be replicable.