The discussion clarifies that Apollonius named the conic sections, including hyperbolas, which relate to slicing an oblique cone. The term "hyperbola of Apollonius" specifically refers to a rectangular hyperbola associated with a particular point and conic. While all hyperbolas of Apollonius are rectangular, the phrase alone lacks a definitive meaning without context. The conversation emphasizes the connection between Apollonius's work and the classification of hyperbolas. Understanding this terminology is crucial for studying conic sections in mathematics.