That's a really great explanation, Tiffany. I virtually cringe when I see an article/book, written by a so-called "expert", that uses that phrase "This plant likes to be root-bound". I'm with you! A plant may grow well and/or just survive being root-bound, but that doesn't mean that that's the way to grow it best. Certainly some plants really like to stay on the dry-side, but with proper media, the vast majority of plants will not die of "over-watering". The frequency of watering is not the real issue here, it is the fact that the media retains that water too long. That's what I believe anyway.
