Hi Jai,
Thank you for your comment. If you read my booklet (“Pretotype It” … free) or watch one of my videos (search for “pretotyping stanford”) I explain why I felt the need to coin a new term and other pretotyping examples along the lines you suggest.
Regardless of nomenclature (you say “Wizard of Oz” I say “Mechanical Turk”) it sounds like we are on the same page when it comes to validating the interest in an idea before investing too much to develop it. In other words: Make sure you are building The Right It before you build It right.
Thanks again for the comment and best wishes pursuing your own ideas.
Alberto