@quincredible: Unpacking the meaning of 'onchain' art storage

When Zora and Rodeo say the art is still 'onchain', what do they mean? The way onchain is defined has already been diluted in the last year or two. So what are we meant to assume about where the media is being stored? It's definitely not actually on any chain, but is it even being pinned to ipfs or arweave?