No, I'm not confusing anything. I can see why you would believe that, based on what I assume you made as inferences.
There are plenty of mobile and web apps that are network bound in this day and age. Many games, for example. That's just the obvious choice of example.
games are more sensitive to network latency, not throughput.
The phrase "I/O bound" is typically used in the context of throughput limitations, not latency. The issue of network latency is more complex than simply the network level as it involves the whole software stack in the equation.
There are plenty of mobile and web apps that are network bound in this day and age. Many games, for example. That's just the obvious choice of example.