Earlier quoted context omitted.
We have an opportunity here to define the terms that our descendants will be using 50 years from now. It won't come again. Physics suffered from the same problem: "action," "work," and so on, are unrelated to their usage. But we're stuck with them. Both "loss" and "learning rate" are confusing, and neural networks are so confusing that I think it's worth undoing as much as possible. I would s/loss/penalty/ and s/lear…
It's not penalty or step size. It's loss as in amount of information lossd (not encoded in your network) compared to one perfectly encoding ground truth. Learning rate, as in what is the maximum amount of delta you are allowed to change your inputs to minimise your information loss analogous to how quickly you can possibly learn in one experiment.
One of the nice things about ML (and math, for that matter) is that there are multiple mathematically equivalent ways of looking at a thing.