Thats a meaningless distintion, the moon orbits the earth with an elliptical orbit in the Earth’s frame of reference, or an eliptical orbit with fairly large, low frequency oscillations in the Sun’s frame of reference. The same is true for something in LEO except the oscilations are smaller and shorter period.
I’m not sure where you got that from, the moon absolutely is gravitationally bound to the earth, so much so that it has become tidally locked.