You can call it anything you want, but it’s not illogical.

The UTXO set exists on every node that stores the blockchain. Surely you don’t think everyone running a node owns all the UTXOs. Anyone running a node owns the history of the blockchain that is on their hard drive.

Again, no one can own the specific arrangement of words (seed phrase). We can own our piece of paper or steel with those words on it, but not the words or their arrangement on someone else’s property. So if someone sees these words without violating your actual property (house, car, backpack, etc.) then they have not stolen from you. To “own” bitcoin truly is to be the only person that knows how to move UTXOs.