That's like saying the hard drive manufacturers are "correct" to use GB to represent 1 billion bytes. It's not really correct, but they all do it, and we all know what they mean. A gigabyte is 1 billion bytes (because it's a metric/decimal term, though TBH it's quite acceptable for one to use it when "spelling out" GB--many do, but if you're going to spell it out and mean binary then you should use GigaByte instead->); but a GB is not (because it's binary notation). That's what "notation" is all about--conveying accurately what is meant. Thanks, but I'll continue to always use correct and proper notation regardless of what any vendor or the ISO (or Netflix) says.
Edit: I should point out, I suppose, that it's fairly irrelevant whether the first letter is capitalized when you're following it with 'bps'--which always means 'bits per second'. So whether it's 'Mbps' or 'mbps', the 'm'/'M' still refers to a decimal value (back to that whole comm. speeds always being decimal thing).
"...but ya doesn't hasta call me Johnson!"