It would be if not for the fact it is unambiguosly used to define Sauron.
The only context of the ttle of "The lord of the rings" in the books is only ever applied to two characters, Frodo in mentioning and Sauron in definition, and it is never applied to the actual One Ring in any context.
Again, you're ignoring the context of the book and its story to make an argument in ignorance. Repeating ignorance doesn't somehow make it less ignorant.