What you call Standardization should be etymologically called Normalization.

A. Normalization : In classical statistical sense, Normalization means (x- mu)/sd. When statisticians says “normalize” they mean to say a distribution having mean =0 and variance =1. This is also known as standard normal distribution. Any normal random variable X can be transformed into a standard score or z score via the equation (x- mu)/sd. If one thinks Etymologically , it makes sense to call the above process ‘normalization’ since normal here refers to the ‘standard normal’.

B. Min Max scaling (informally referred as normalization but I would call it ‘standardizing’) X= X-X(min) / X(max) — X(min) The above formula helps in scaling the values in the range of [0,1] and in a true sense ‘standardizes’ the values. Come to think of it, how is scaling the values between [0,1] normal or Normalization? It simply does not stick or make sense. I would hence rather call this process ‘standardizing’ as things are standardized in the value range [0,1].

Sometimes, things gets misinterpreted/ ill defined . I think this is a classic case where a statistical concept got ill defined / misinterpreted.