Anonymous 10/18/2019 (Fri) 17:01:16 No.10738 del
AFAIK loli is just short for lolicon.
It has an exact definition. Here's the Wikipedia page:
https://en.wikipedia.org/wiki/Lolicon
And it passes the Miller-test mentioned in the links you provided since it has literary and artistic values. In case of imageboards, if not part of a comic or whatever it's mainly the artistic value.