I have always worked under the assumption that an F1 was two IBLs crossed to have a generation with all the dominants expressed from both lines. The greater the difference between the lines and the more distant the closest common ancestor the stronger the offspring. The strongest weed I ever smoked was an F1 cross between Silver haze (indoor Holland) and Durban Poison (some outdoor seeds my mate brought from S Africa) that I made.
IMO F2 is essentially random and should be the start of an IBL breeding program, either through backcrossing to the desired parent or by crossing siblings selecting for traits.
IMO Commercial seed sellers should either be selling a true F1 or a true IBL. Anything else, unless advertised as random seeds for breeding with, is out of order.
The current state of the market as far as I can tell is that there are some breeders doing things very properly. They get many many plants and select just a few to use as parents, make crosses until one is special, then over a few generations turn that into a true breeding IBL and then sell those seeds. They are a shining example to any breeder.
Unfortunately, there are also some people selling essentially random seeds who are relying on the names of the parent plants, unaware even of the meaning of the words they use to sell seeds. They claim F1, F2, I have even seen people advertising F3 seeds. Selling people crap and charging them full price for it too.
Threads like this are good. The more widespread the knowledge of what the right thing to do is, the less likely it is that sellers will get away with ripping people off.