Then give it another name, please. I call it "tanking" with the quotes to indicate that it is the first definition above and not the second. Referring to it as tanking is a nice, quick, easy reference that most people understand. Feel free to come up with a better name, but until then, we'll just have to use the one we've got and the one that is generally accepted around here.
Actually, I think a lot of people have a lot of different ideas about what "tanking" is. Some people think that it means throwing games for the sake of a higher draft pick ("throwing games" could mean any number of things, but pretty much means that you intentionally lose when you could actually win). Some think it refers to sitting your best players at the end of the season when you're not going to make the playoffs (ala the Celtics when they sat Paul Pierce last season).
I don't think tanking is the best term to use, unless you're talking about Paul Crewe type behavior. I think it's clear that no one wants to see their team lose; no team wants to lose. But if you have a plan that requires you suffer through some bad times for the sake of enjoying some good times, then you should execute that plan. I think the Grizzlies are in better position than the Knicks, even though the Knicks have more talent and might win more games.
Of course, another aspect is the execution of your long-term plan, and ours has not been good thus far; in fact, I have often wondered aloud if we even had one. The Bibby trade seems to be a beacon of hope, but I'll reserve my giddiness until I see what we look like going into training camp.