Yeah. People are playing tons of word games with this stuff, ex. Apple is saying its shipping an LLM for the iOS 17 keyboard, and who knows what that means: it sounds great and plausible unless you're familiar w/the nuts and bolts.
Apple's not playing word games, because they didn't say "LLM". They said that autocorrect will use "a transformer language model, a state-of-the-art on-device machine learning language model for word prediction", which is a much more precise statement than what you attributed to them.
This sounds totally plausible. It will be a much smaller transformer model than ChatGPT, probably much smaller than even GPT-2.
Apple is calling their typing correction a “transformer”. That is a component of LLMs, but Apple may not be using a full LLM in that case. This feature seems like a sandbox for them to try out some of this tech in the field while they do work internally on more ambitious implementations.